According to information published by Volozhin and Neftegaz.ru electronic news services, BelorusNeft is seeking to attract the financial resources of the Vietnamese state oil company Petrovietnam for exploration of the Iranian Jofeir oil field. According to a source in the Byelorussian government quoted by the news agencies, a preliminary agreement was reached between the parties.  The agreement stipulates that the Vietnamese company will fully fund Belarus’ project plans in Iran. To accomplish this, as explains Neftegaz.ru, it will be necessary to register a joint venture in Vietnam on the principles of parity with the Byelorussian company. Then, once the consent of the Iranian side is received, the newly created company will handle the exploration of Jofeir oil reserves.

On May 5, the national oil company of Iran confirmed and adopted the general plan for the Jofeir field’s exploration developed by Byelorussian experts.

This information was originally published May 7, 2007 (www.volozhin.com; www.neftegaz.ru)