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Lelchitsy Regional Executive Committee
2 July 2014

Belorusneft to prospect proprietary assets in Russia for oil in 2015

GOMEL, 2 July (BelTA) – The industrial group Belorusneft should put more efforts into prospecting the areas of OAO Oil Company Yangpur (Belorusneft's division in Western Siberia) for oil deposits. The conclusion was made by Belorusneft technical and economic specialists at the June conference, the company's press service told BelTA.

It has been decided that the most promising structures of the Izvestinsky license area will have to be prospected. The work will begin in 2015. Five wells will be drilled initially. Apart from that, a schedule for drilling lateral holes in OAO Oil Company Yangpur in 2014-2015 has been adopted. Seven drilling operations at several deposits will be performed in the period.

Participants of the conference discussed the entire range of topical issues facing the oil extraction sphere, service, engineering and technical support for the exploration and development of deposits of the Russian asset. Close attention will be paid to raising the efficiency of process operations and improving the quality of topography and geodesy operations at Yangpur deposits.

In line with long-range plans within the next three years Belorusneft intends to increase the extraction of oil and gas condensate from its assets in Russia by 50%. By 2017 the extraction of these hydrocarbons in Western Siberia is supposed to reach at least 200,000 tonnes. The Belarusian oil company intends to secure the figure by assimilating cutting-edge technologies in line with the program for the comprehensive examination of the available wells and for improving the system used to maintain geostatic pressure.

The Belarusian industrial group Belorusneft acquired Russian OAO Oil Company Yangpur via an auction in September 2013. The Russian company had three oil deposits and one gas condensate deposit in development, with the number of wells at 44.

The Belarusian industrial group Belorusneft was founded in 1966. The company specializes in the surveying, prospecting and development of oil fields, well drilling, oil and associated petroleum gas extraction in Belarus and a number of other countries, including Russia, Ukraine, Venezuela, and Ecuador.