Belorusneft plans to implement new investment programme in 2021-2025 to increase oil extraction in Ecuador
<p> MINSK, Sep 6 - PrimePress. Belorusneft State Production Association (Rechitsa, Gomel Region) plans to implement a new investment programme in 2021-2025 aimed at increasing oil extraction in Ecuador, said Belorusneft CEO Alexander Lyakhov. </p> <p> </p> <p> Lyakhov recalled that a subsidiary of Belorusneft, Service Oil Ecuador Ecuaservoil JSC, has been operating in Ecuador since 2013. The company produces about 300 tonnes of oil per day. There are 12 wells at its disposal. In Jan-Aug 2021, the company produced 60,700 tonnes of oil in Ecuador. </p> <p> </p> <p> “The main investment programme has been completed and the oil treatment plant has been put into operation. The next stage in the asset’s development in 2021-2025 is to expand the contract area and implement a new investment programme to ramp up oil production and maximise the involvement of the created infrastructure in production,” Lyakhov told the corporate newspaper Neftyanik (Oil Rigger). </p> <p> </p> <p> As previously reported, Belorusneft plans to increase oil extraction in Ecuador in 2020 by 14% year on year to at least 130,000. </p> <p> </p> <p> Under a contract with Petroamazonas JSC (Ecuador), Belorusneft’s subsidiary Service Oil Ecuador Ecuaservoill S.A. has been developing the Armadillo (Block 55) oil field since 2013. Its reserves are estimated at over 1.5 million tons. The project includes optimization of production, infrastructure development, exploration, drilling and repair of wells (11 wells under the contract with Petroamazonas), and development of oil recovery enhancement techniques. In 2017, Belorusneft produced first 25,000 tonnes of oil at Armadillo. </p> <p> </p> <p> Belorusneft was founded in 1966. The company specializes in exploration work, oil extraction, gas processing and offers a wide range of seismic exploration operations. </p> <p> </p> <p> Belorusneft provides oil extraction service in Russia, Ukraine, Venezuela and Ecuador, facilitates crude supplies to Belarusian on refineries on a give-and-take basis. Belorusneft sells oil products via a proprietary network of refilling stations – the largest network in the country. End </p> <p> </p>
2021-09-07
Primepress
Belorusneft plans to implement new investment programme in 2021-2025 to increase oil extraction in Ecuador
MINSK, Sep 6 - PrimePress. Belorusneft State Production Association (Rechitsa, Gomel Region) plans to implement a new investment programme in 2021-2025 aimed at increasing oil extraction in Ecuador, said Belorusneft CEO Alexander Lyakhov.
Lyakhov recalled that a subsidiary of Belorusneft, Service Oil Ecuador Ecuaservoil JSC, has been operating in Ecuador since 2013. The company produces about 300 tonnes of oil per day. There are 12 wells at its disposal. In Jan-Aug 2021, the company produced 60,700 tonnes of oil in Ecuador.
“The main investment programme has been completed and the oil treatment plant has been put into operation. The next stage in the asset’s development in 2021-2025 is to expand the contract area and implement a new investment programme to ramp up oil production and maximise the involvement of the created infrastructure in production,” Lyakhov told the corporate newspaper Neftyanik (Oil Rigger).
As previously reported, Belorusneft plans to increase oil extraction in Ecuador in 2020 by 14% year on year to at least 130,000.
Under a contract with Petroamazonas JSC (Ecuador), Belorusneft’s subsidiary Service Oil Ecuador Ecuaservoill S.A. has been developing the Armadillo (Block 55) oil field since 2013. Its reserves are estimated at over 1.5 million tons. The project includes optimization of production, infrastructure development, exploration, drilling and repair of wells (11 wells under the contract with Petroamazonas), and development of oil recovery enhancement techniques. In 2017, Belorusneft produced first 25,000 tonnes of oil at Armadillo.
Belorusneft was founded in 1966. The company specializes in exploration work, oil extraction, gas processing and offers a wide range of seismic exploration operations.
Belorusneft provides oil extraction service in Russia, Ukraine, Venezuela and Ecuador, facilitates crude supplies to Belarusian on refineries on a give-and-take basis. Belorusneft sells oil products via a proprietary network of refilling stations – the largest network in the country. End