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28 February 2020, 14:54

Belorusneft eager to extract million tonnes of oil equivalent in Russia in 2020

An archive photo
An archive photo

GOMEL, 28 February (BelTA) – The Belarusian company Belorusneft intends to extract 1 million tonnes of oil equivalent in Russia in 2020, BelTA learned from Andrei Bokhan, Head of the Foreign Economic Activities Office of Belorusneft, on 28 February.

According to the source, Belorusneft has ambitious plans this year as far as oil extraction in Russia is concerned. “We intend to secure the extraction of 1 million tonnes of crude oil equivalent in 2020. It will be the first time we have accomplished it in Russia. Natural gas will be the main product. We intend to extract about 700 million m3 of natural gas and associated gas and 300,000 tonnes of liquid hydrocarbons – oil and condensate,” the executive said. The extraction of natural gas will be virtually doubled in comparison with 2019. A two-time increase in condensate extraction is expected as well.

Andrei Bokhan stressed: “The basket of products our extraction company Yangpur makes in Russia is rather broad. It includes oil, condensate, natural gas, and associated petroleum gas. Infrastructure has been created for all of it. It continues developing.”

In his words, the launch of gas extraction business in 2019 and its continuation in 2020 spurred the company's growth. “We can use it to secure a rather large increase in natural gas extraction,” Andrei Bokhan specified.

The executive described the acquisition of the Yuzhno-Tydeottinsky licensed site by Yangpur Company in December 2019 as significant. Follow-up exploration will be performed in the area in the next few years. The new reserves will help increase extraction. “We see a certain strategy in favor of further increasing the assets in this region and acquiring promising sites,” the executive added.

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.

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