Gomeltransneft Druzhba to boost fixed capital investment 90% in 2012
MINSK. May 29 (Interfax) - Belarusian operator of the southern branch of the trunk pipeline Druzhba - Gomeltransneft Druzhba plans to fixed capital investment of around 360 billion Belarusian rubles (around $43.8 million at the current exchange rate) in 2012, up 90% on 2011, the company told Interfax.
The company already put Br 112 billion into reconstruction and modernization of fixed assets in January-April 2012, up 125% on the same period of 2011.
The company will continue to expand its reservoir facilities in 2012. Before the end of the year, Gomeltransneft plans to launch two reservoirs, each of which will have the capacity to store 50,000 cubic meters of oil and at by the end of 2015 it plans to build another two such reservoirs. Oil storage capacity should reach 530,000 cubic meters by the end of 2015, compared to 350,000 at present.
Gomeltransneft will in 2012 continue its work to replace pipe in underwater sections of the first and second phases of the pipeline, it will carry out diagnostics and repairs on pipes on inland sections and carry out various projects to upgrade and increase the reliability of the company's pumping stations and energy system facilities.
The northern and southern branch of the Druzhba pipeline passes through Belarus. Polotsktransneft Druzhba is the operator of the Northern branch and oil is supplied only to Naftan. The Gomeltransneft Druzhba pipeline transits Russian and Kazakh oil via Belarus to Poland and Germany and also to Ukraine, Hungary, Slovakia, the Czech Republic and supplies Russian and Belarusian oil to the Mozyr refinery. Transit volumes total around 75 million to 80 million tonnes per year.
The Gomeltransneft Druzhba pipeline system transported 75.5 million tonnes of oil in 2010 and 79.6 million in 2009.
The official exchange rate on May 28 stood at Br 8,220$1.