Belorusneft geologists receive first results of oil reserves study in Junin 1 block in Venezuela
Belorusneft geologists received the first results of the oil reserves study in Junin 1 block of the Orinoco river basin. The Belarusian specialists drilled a pioneer well in the block and confirmed the presence of oil, BelTA has been informed in the Belneftekhim concern.
Belorusneft representatives have advised to explore several seismic profiles and drill nine pioneer wells. Belorusneft specialists will process the results of the seismic exploration works and specify the amount of oil reserves in the region making allowances for the new data on the structure and oil saturation of the block.
Belorusneft specialists intend to finish the oil reserves study in this block in November this year. Then Belarus might take part in its development.
According to the Belneftekhim concern, the joint Belarusian-Venezuelan seismic prospecting company SeismoVenBel will start to work in Venezuela. The sides have already signed the constituent documents, contract and the charter of the new company. Belarus’ share in the joint venture makes up 40%.
The Gomel-based Seismotechnika concluded a contract for delivery of seismic prospecting equipment at the value of $3,1 million to Venezuela.
