Venezuelan President Hugo Chávez and his Belarusian counterpart Alexander Lukashenko executed on Wednesday a memo of understanding to develop two new oil areas in east and west Venezuela, according to a press release from the Venezuelan presidential office.

The instrument mirrors the presidents' agreement to add the areas of North Oritupano and Ostra, in northeastern Anzoátegui state, and Block II, in northwestern Zulia state, to the existing oil drilling both in east and west Venezuela, AFP quoted.

"We have made progress with Belarus in two years only. We are developing already several fields and producing almost 20,000 bpd [...] Today, we signed an agreement to extend the operations to other fields, both in the east and the west, and therefore, increase this output twofold to 30,000 barrels," said Chávez during his third visit to the European country.