Belarus’ state-owned oil producer Belorusneft has begun the year by commissioning new wells across the Gomel region while setting ambitious production targets for 2026, as neighboring Russia simultaneously reports significant increases in its mineral reserves following extensive geological exploration.
According to Interfax, cited by Magyar Hírlap, three new wells were built at the Rechitskoye oil field, two at the Visanskoye field, and one each at the Yuzhno-Sosnovskoye, Zapadno-Gartsevskoye, and Ostashkovskoye fields.
All of the facilities are located in southeastern Belarus’ Gomel region, the country’s primary oil-producing area.
Belorusneft also reported progress in expanding drilling capacity. The company’s press service stated, “In January, the team of the rig assembly department handed over two assembled rigs to the specialists of the Svetlogorsk drilling operations department. In addition, four new sites were prepared for the construction of rigs.”
Earlier announcements indicated the company intends to drill around 100 new wells during the course of this year as part of efforts to sustain domestic output.
Belorusneft CEO Alexander Lyakhov previously announced that the company aims to produce 2.1 million tons of oil in 2026, up from 2.013 million tons produced in 2025, marking a modest but steady increase in domestic output.
Founded in 1966, Belorusneft operates as Belarus’ main oil producer, engaged in exploration, field development, drilling, and extraction of crude oil and associated gas, while also maintaining operations in foreign energy markets.
Meanwhile, Hungarian business daily Világgazdaság reported that Russia began the year with significantly larger mineral reserves compared to the previous year, driven by successful geological exploration efforts uncovering new oil, gas, and precious metal deposits.
According to the report, Russia’s liquid hydrocarbon reserves — essentially oil — grew by 640 million tons by the end of 2025, while natural gas reserves increased by approximately 670 billion cubic meters.
Precious metals discoveries also expanded last year, particularly in gold reserves. Reports indicate that an additional 600 tons of gold resources were identified across multiple regions.
The new deposits are concentrated in three main areas. Geological work identified 21.7 tons of gold and 17.6 tons of silver at the Fyodorovskoye-Kedrovskoye field in Khakassia, 14.7 tons of gold at the Dubach deposit in the Magadan region, and 10.8 tons of gold along with 12 tons of silver at the Kayurkovskoye deposit in the Kamchatka region.
