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Belarus to boost oil production in 2019

Economy 09.01.2019 | 10:56
An archive photo
An archive photo

GOMEL, 9 January (BelTA) – In 2019 Belorusneft is set to expand oil production by 20,000 tonnes over 2018 up to 1.690 million tonnes, BelTA learned from the press service of the company.

The reserve growth should fully make up for production growth. “In the coming years the company will focus on overcoming the misbalance between reserve growth and production. Such an ambitious task requires a very careful and comprehensive approach to resource management. This implies efforts to increase oil recovery, additional exploration works, and exploratory drilling,” the press service noted.

The company informed that thanks to a comprehensive approach to developing existing and new deposits and introduction of modern technology, the share of commercial reserves in the general structure of carbohydrates has increased. So has the number of commercial wells.

“Over the past five years, the company's major geological prospecting indicators remained quite good. Last year Belarus set new records in exploratory drilling and in the volume of 3D seismic exploration works. The efficiency of geological prospecting is close to its maximum,” the press service noted.

In 2018 six exploratory wells were built. Plans are in place to explore another four structures. According to Belorusneft estimates, every fifth well to be drilled by the company in 2019 will become an exploratory well.

At present Belorusneft is focused on two areas of work: search for new promising reserves and increasing the efficiency of field development. The company drafted a comprehensive geological prospecting program that provides for developing both traditional and untraditional reserves, Deputy Director General for Geology at Belorusneft Piotr Povzhik said.

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