Business news

MINSK, 21 December (BelTA) – Over 1.6 million tonnes of oil is extracted in Belarus every year. Deputy Prime Minister of Belarus Mikhail Rusy made the statement during the joint session of both chambers of the Belarusian parliament on 21 December, BelTA has learned.

According to the source, there are 82 discovered oil deposits in the country, including two oil-and-gas condensate deposits. All the discovered deposits are tied to the Pripyat Trough and can be found in Gomel Oblast and Mogilev Oblast. “For the last few years the annual oil extraction volume has been stabilized primarily through reliance on technologies designed to increase oil recovery. Oil extraction now stands at 1.640 million tonnes per annum,” noted Mikhail Rusy. In his words, the available oil deposits can last for 35 years with this volume of oil extracted every year.

The industrial group Belorusneft extracts oil from 59 deposits, with 16 deposits preserved for future use.

In 2011-2015 ten oil wells were commissioned. They produce about 30,000 tonnes of oil per annum. In 2016 Belorusneft started the test operation of the Yuzhno-Shatilkovskoye deposit where oil reserves are estimated at 740,000 tonnes and are worth roughly $100 million, said the Deputy Prime Minister of Belarus.