OREANDA-NEWS. June 24, 2008.Belorusneft geologists opened a new oil deposit in the Khoiniki region. According to the testing, the well gives over 18 cubic meters per 24 hours. It is a considerable accession for the Belarusian region as Pripyat wells produce 8-11 cubic meters of oil.

The Belorusneft geologists started talking about the availability of lands at the border of the Khoiniki and Rechitsa regions four years ago.

Oil was found at a depth of more than 4,300 meters. Oil reserves at the new deposit are presumably estimated at 145 thousand tonnes. However, this is not the final figure. The geologists say it is light oil that highly valued at the market. The examination at the trial bore will be continued. The geologists consider that they will be able to find another oil bed. Oil production will start in autumn.

Founded in 1966, Production Association Belorusneft is part of the Belarusian petrochemical concern Belneftekhim. Belorusneft is involved in prospecting, development of oilfields, drilling of oil wells, extraction of oil and associated petroleum gas. The corporation includes Belarusian Gas Processing Plant and oil industry research institute BelNIPIneft. Belorusneft boasts Belarus’ largest reservoir capacity and over 400 petrol and gas refuelling stations, which enable the company to stay a top supplier of petroleum and gas products in the country. In 2008, Belorusneft plans to produce 1.7 million tonnes of oil.