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12 March 2024, 12:57

Belarus’ commercial oil reserves 14m tonnes up over 8 years

An archive photo
An archive photo
MINSK, 12 March (BelTA) – Belarus’ commercial oil reserves make up about 45 million tonnes and increased by 14 million tonnes in 2016-2023. Belarus President Aleksandr Lukashenko mentioned the figures during a government conference held on 12 March to discuss the state and development of the country’s mining industry, geological exploration work, including work targeting hydrocarbon raw materials, BelTA has learned.

Speaking about successful examples of the work of the relevant enterprises, the head of state mentioned Belaruskali, which had become an internationally recognized brand. The company’s business processes are finely tuned starting with prospecting for new deposits and ending with fertilizer production. The president regularly hosts conferences to discuss potassium industry performance. This is why today the focus has been shifted to other important areas, primarily hydrocarbon raw materials.

The head of state said: “I am told that as of today the commercial reserves of Belarusian oil make up about 45 million tonnes. In 2016-2023 the reserves grew by 14 million tonnes, including by 2.5 million tonnes in 2023 alone. It is a record high of the last 40 years. The application of new technologies, an increase in seismic exploration and drilling have allowed increasing oil extraction by 20,000 tonnes per annum on the average since 2017.”

However, Aleksandr Lukashenko believes the growth rate is insufficient and wants a comprehensive approach to the matter. “What are the prospects of developing the wells and what are we going to do about hard-to-recover resources? How many years do the geological exploration plans cover? Do you have enough domestic specialists and equipment?” the president formulated a number of questions.

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