MOSCOW. Jan 10 (Interfax) - TNK-BP might increase oil production in Venezuela more than threefold to 5 million tonnes annually, the company said in the corporate magazine Novator.

TNK-BP became the co-owner of three joint ventures with PDVSA in mid-2011 - PetroMonagas (16.67%, which produces super-viscous oil at the Faja belt), PetroPerija (40%) and Boqueron (26.7%). TNK-BP's stake in the total production at these enterprises in 2011, according to preliminary results, will come to 1.5 million tonnes (11.25 million barrels). Oil output should increase to 1.8 million tonnes (13.5 million barrels) in 2012.

In addition, TNK-BP operates in Venezuela in the framework of LLC National Oil Consortium while TNK-BP specialists have been detached to the consortium's JV with PDVSA, PetroMiranda (which produces super-viscous oil in the Faja belt).

The publication said: "TNK-BP is looking into the possibility of expanding involvement in projects in Venezuela, including an increase in the stake in PetroMonagas. Over the midterm, this might help boost TNK-BP's stake in PetroMonagas' oil output to 3 million tonnes (22.5 million barrels0 a year. Including TNK-BP's production in PetroMiranda, Boqueron, and PetroPerija, total oil output in Venezuela might come close to 5 million tonnes (37.5 million tonnes) a year."

TNK-BP's main asset in Venezuela is the JV PetroMonagas, which produces 6.3 million tonnes (47.25 million barrels) of synthetic oil a year. The JV is implementing an engineering project in the Carabobo Zone, which includes production of super-viscous oil, its mixture with diluters and transport to a plant for improved heavy-duty oil production, as well as the production and sale of synthetic oil.

TNK-BP's interests in Venezuela are represented by TNK-BP Venezuela Ltd., which is headquartered in Caracas.

Venezuela is one of the world leaders for hydrocarbon reserves and production. The country's proven oil reserves come to 297 billion barrels, and gas -195 trillion cubic meters. Average daily oil production in the country is 2.975 million barrels. Daily oil output should increase to 4.124 million barrels by 2015 and 6 million barrels by 2012.

Venezuela's Faja heavy oil (super-viscous) belt has proven reserves over 220 billion barrels where the following companies have operations: Chevron, Repsol, ENI, CNPC, PetroVietnam, Total, Statoil, Petronas, Inpex,