Business news
Belorusneft nearly doubles oil extraction in Ecuador
GOMEL, 21 May (BelTA) – The Belarusian industrial group Belorusneft has nearly doubled oil extraction in Ecuador this year, the company’s press service told BelTA.
The Belarusian company has drilled ten oil wells in Ecuador so far. The tenth one is located in block 55 in the Armadillo oilfield. It now operates in production mode. As result, the ten wells produce 500 tonnes of oil per day. The daily output has increased by over 200 tonnes since the beginning of the year. “Thanks to the four oil wells drilled in 2019 we’ve managed to nearly double oil extraction,” BelTA learned from Andrei Bokhan, Head of the Foreign Economic Activities Office at Belorusneft.
Although block 55 in the Armadillo oil field is a new area with high geological prospecting risks, all the wells drilled by the Belarusian company in Ecuador now operate effectively. Belorusneft views the massive oil extraction growth as a considerable accomplishment made possible by the entire team of geologists, seismic surveying specialists, and engineers working in Ecuador and Belarus.
According to the source, the specialists had to analyze all the data in detail. Then geologists in Belarus processed and interpreted seismic data and built geological models of the oilfield. After each well was drilled, timely clarifications were made taking into account geological and dynamic models of the oilfield.
The company believes this year and the previous one are important from the point of view of development of oil fields in Ecuador. Apart from the four oil wells already drilled so far this year the company intends to drill another two to raise the total number of oil wells to 12. Plans have also been made to finish building the entire ground infrastructure for water and oil treatment in block 55 of the Armadillo oil field.
Belorusneft’s daughter enterprise Service Oil Ecuador Ecuaservoil S.A. was established in 2013. Since March 2015 it has been offering comprehensive services to optimize extraction, increase oil recovery rates, and perform geological surveying in block 55 of the Armadillo oilfield in line with the relevant contract with Petroamazonas Company.
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