Belorusneft to increase oil production to 2.3m tonnes by 2030

The Belarusian state-owned production association Belorusneft (Rechitsa, Gomel Region) plans to increase oil production in Belarus by 22.6 per cent by 2030 (to 2.3m tonnes), compared to 2023 – as stated by the Deputy Director General for Geology, Piotr Povzhik, at a meeting of the enterprise's Council, the Neftyanik newspaper reports

According to Piotr Povzhik, geological exploration work at Belorusneft in 2024-2030 will affect all structural and tectonic zones of the Pripyat Trough. As a result, in 2024, oil production from new wells is planned at the level of 231 thousand tonnes, and by 2030 it is forecasted at the level of 280 thousand tonnes, while the operating stock will reach 1.8 thousand wells. At the same time, the increase in oil reserves in 2024 is expected at the level of 2.7m tonnes, and in 2030 - 3.3m tonnes.

As previously reported, Belorusneft increased oil production in 2023 by 3.64 per cent compared to 2022 (to 1.876m tonnes). 

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The state-owned production association Belorusneft was established in 1966, specialises in the search, exploration and development of oil fields, carries out the production of oil and associated petroleum gas, and is engaged in oil services in Russia, Venezuela and Ecuador.