Azernews.Az

By Nigar Abbasova

Belarus is set to increase its oil production in 2017 adding some 5,000 tons to its output, Belta agency reported.

Natural Resources and Environmental Protection Minister of the country Andrei Kovkhuto announced about the plans on increasing the production while talking to reporters. He mentioned that the country added some 200,000 tons in 2016.

“We have been increasing our production in the past few years. Our specialists will test a new promising site. For now, we cannot name it a deposit. Assessment work is still underway,” he said noting that the efforts are currently focused on four promising oil-containing sites.

Kovkhuto went on to say that the Yuzhno-Shatilkovskoye oilfield was handed over to Belarusneft in 2016.

“We observe an increase in our oil stocks as well. Last year, the volume stood at 0.748 million tons, as compared to the forecast of 0.6 million tons,” he said.

The minister also mentioned that Belarus and Russia signed an action plan to harmonize the relevant laws and adopt a new classification of raw hydrocarbons last year.

“This will help expand the presence of Belorusneft on the Russian market. The same will be done in respect of solid minerals with a view to attracting investors,” he added.

The majority of oil and gas in Belarus is being produced from the largest fields such as Rechitskoye, Ostashkovichskoye, Vishanskoye, Tishkovskoye, and Yuzhno-Ostashkovichskoye.

A new Ugholskoye oil field was discovered earlier this year in the country. The deposit is classified as hardly accessible deep reserve and is believed to contain some 1.695 million tons of oil. Belarus exports all the oil it produces.

As of December 2016, oil production in the country stood at the level of 1.6 million tons per year.

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