In the end of 2012 Belorusneft completed registration of its branch in Ecuador and subsidiary company in Ukraine. The latter is called Service Oil and will focus on provision of oilfield services.

 

On the first stage of their cooperation with Ecuador companies, specialists from Belorusneft will perform seismic survey operations only.

 

In the nearest feature it is planned to create a subsidiary of Belorusneft in Ecuador in order to sequentially increase the number of seismic exploration operations performed.

 

It is expected that as many as two seismic exploration crews will be created in Ecuador by the end of 2013.

 

Specialists of Belorusneft also study the possibility of entering the Ecuador’s market of wells drilling and enhanced oil recovery services.

 

Ecuador authorities suggested Belorusneft’s executives to consider the possibility of cooperation between Belorussian experts and Petroamazonas company. Potential partnership may include geologic exploration operations on the South-East of Ecuador, as well as joint development of existing oilfields.

 

Service Oil, registered Belorusneft’s subsidiary in Ukraine, will provide oilfield services, including drilling and repair of wells, hydraulic fracturing operations, seismic surveys and seismic data processing/interpretation.

 

According to Belorusneft’s specialists, the Company also studies the prospects of production and exploration drilling of oil and gas wells in Ukraine.