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Belorusneft eager to stabilize oil extraction at 1.77m tonnes as from 2023

20.10.2020

GOMEL, 20 October (BelTA) – The Belarusian industrial group Belorusneft intends to stabilize oil extraction at 1.770 million tonnes as from 2023, BelTA has learned.

The company intends to achieve several goals in the near future. In 2021 Belorusneft intends to focus on prospecting and exploration drilling in the central and northern parts of the Pripyat Trough. Reconnaissance traverse of new fields in the southern part and their development are some of the key goals. Plans have been made to stabilize oil extraction at 1.770 million tonnes as from 2023.

The company summed up intermediate results of geological prospecting work and adopted plans on developing the remaining recoverable reserves of hydrocarbons. Three oil deposits have been discovered in Belarus since the beginning of the year: Gartsevskoye, Beskopylnovskoye, and Kuzminskoye.

The recoverable oil of the Gartsevskoye oil reserve exceeds 400,000 tonnes. The company intends to drill six wells to increase oil extraction over there. Beskopylnovskoye's recoverable oil is estimated at over 800,000 tonnes. Eight wells will be drilled there. Reserves at Kuzminskoye are estimated at over 250,000 tonnes. Four wells will be drilled there in the future.

New prospecting areas represent an important part of the company's long-term strategy. A field 3D seismic exploration program for the period till 2025 has been worked out. It provides for a considerable amount of work to be done in the northern, central, and southern parts of the Pripyat Trough. Evaluating the potential economic effectiveness of the project comes to the forefront, Belorusneft representatives specified.

Belorusneft specialists are working hard to exploit the hard-to-recover reserves that have already been discovered. New technologies help with that. The share of active oil reserves in the remaining recoverable oil reserves increased from 36% to 48% in the last few years.

The Belarusian industrial group Belorusneft was founded in 1966. The company specializes in exploration, prospecting, and development of oil fields, well drilling, extraction of oil and associated petroleum gas. Belorusneft also offers oil industry services in other countries.