OREANDA-NEWS. On December 08, 2007 President of Belarus Alexander Lukashenko and President of Venezuela Hugo Chavez attended the ceremony of opening PetroVenBel, a Belarusian-Venezuelan oil producing company, in the state of Anzoategui, reported the Official website http://president.gov.by.

In the presence of the two presidents the first portion of oil was extracted, which was hailed as a historic event.

The new joint company emerged in less than 12 months, 60 per cent of the company belonging to Venezuela and40 per cent to Belarus.

Venezuela provided two of its oil deposits for this project. Next year the joint venture is expected to extract 1 million tonnes of ‘black gold’. Besides, Venezuela agreed to provide two oil deposits more, which will help the company boost oil production to 2 million tonnes by the end of 2009.

Venezuelan and Belarusian professionals are now prospecting for oil in other parts of the country. During a live satellite link-up, the experts working in the Orinoco River basin informed the presidents on the progress in their work and on their plans. Venezuela possesses great reserves of ‘black oil’, and Belarusian modern-day technologies and developments are in great demand in Venezuela.

The President of Belarus thanked the Venezuelans for their assistance. Alexander Lukashenko said that Belarus, for its part, would do its utmost to ensure the sovereignty, security and independence of Venezuela. “In the times of the Soviet Union our country was the most technologically advanced and science-intensive. We have preserved all that and are prepared to share our achievements with Venezuela. In two, three years Belarus will set up modern-day companies in Venezuela, in which the Venezuelans will take pride,” the President said.

Alexander Lukashenko said that Hugo Chavez and he had reached an agreement to deepen political, trade, economic, scientific, technical and humanitarian cooperation between Belarus and Venezuela. “There are no closed topics for us in cooperation with Venezuela. Sincere friendship is the basis for furthering our strategic partnership. We have agreed to consolidate our interaction in international organisations in every possible way. We are united by our independent course in foreign policy and socially-oriented domestic policy, willingness to build a multi-polar world order, efforts to counter outside pressure,” the President said.

Hugo Chavez reaffirmed Venezuela’s willingness to further mutually beneficial cooperation with Belarus. As a symbol of deep respect for the President of Belarus, Hugo Chavez conferred Venezuela’s supreme decoration, the Order of the Liberator, on Alexander Lukashenko.

Belarus and Venezuela concluded an agreement on cooperation in military and technological sphere; the agreement was signed by the presidents.

The Ministry of Finance of Belarus and Ministry of People’s Power for Finance of Venezuela signed an agreement on cooperation. The two countries also signed agreements on cooperation in education and in fighting crime. All in all, 14 agreements were signed.

Moreover, around 15 contracts were concluded between economic entities of the two countries.

Belarus and Venezuela signed five contracts on cooperation in the sphere of science and technology to a total of $3 million.

Alexander Lukashenko set a rigid time-framework for Belarusian specialists to implement all the afore-mentioned projects: no more than 2-3 years.

After visiting the oil field and participating in the official ceremony of signing documents, the presidents of Belarus and Venezuela together took a helicopter ride around the oil field in the state of Anzoategui; the presidents surveyed the operating platforms, oilmen’s camp, and bulk-oil facilities located along the coastline.

In the afternoon of 9 December, the government delegation of Belarus headed by the President returned home to Belarus.