Business news

GOMEL, 15 August (BelTA) – The Belarusian industrial group Belorusneft has started extracting oil in Ecuador, BelTA learned from Piotr Povzhik, the company’s Deputy Director General for Geology.

Belorusneft specialists extract oil from block 55 in the Armadillo field in line with the contract signed with the Ecuadorian state oil extraction company Petroamazonas. As part of the contract Belorusneft specialists performed geological exploration using 3D seismic survey data, designed and built engineering communications. After seeing the 3D seismic survey data Belorusneft specialists suggested drilling three wells.

During the construction of the Armadillo 2 well increased gasification was registered in the volcanic layer. Consequent exploration confirmed that the Belarusian specialists had discovered a new oil deposit, which produced steady commercial inflow of dry crude oil.

Two oil wells have been built so far and are in test operation mode. Another well will be built in the future. Further seismic surveys will be carried out in order to find the best position for consequent development wells. There are plans to extract over 10 million barrels of oil. Ecuador is the second Latin America country after Venezuela where Belorusneft specialists extract oil, said Piotr Povzhik.