A new oil field called “Ugholskoye” was found in Belarus. According to Interfax, the deposit is classified as hardly accessible deep reserve.
The reserves of the new field are estimated at 1.695 million tons of oil. However, a more accurate assessment can be made after drilling a second probe well in 2017, said the press service of Belarusneft (“Belarus Oil” – RRT).
In December 2016, Deputy Prime Minister of Belarus Mikhail Rusyi said that oil production in the country stabilized at the level of 1.6 million tons per year, and proven reserves will last 35 years.
Belarus exports all the oil it produces.