Business news from Ukraine

UKRNAFTA RESUMES PRODUCTION IN SIX FIELDS

12 December , 2017  

KYIV. Dec 12 (Interfax-Ukraine) – Public joint-stock company Ukrnafta is resuming production in the Anastasiyivske, Artiukhivske, Korzhyvske, Pivdenno-Panasivske, Rybalske and Zavodske fields, the company’s press service has reported.
“Operations at 80 out of 132 production wells have been resumed. Thanks to the resumption of six fields Ukrnafta has increased daily production of oil, condensate and gas. From the beginning of December daily oil and condensate production grew to 3,900 tonnes, which is 18% higher than in the period of forced stopping of operations at the fields. In the same period, average daily gas production grew by 12%, to 2.9 million cubic meters,” the company said.
At the same time, Ukrnafta said that, despite the upward pace, the level of production has not yet recovered to the previous level.
“In the first quarter of 2017, before the stop of the first of the six fields, the company produced 4,100 tonnes of oil with condensate per day and 3.5 million cubic meters of gas,” the press service said.
“We are doing everything we can to restore production, but we knew that we would likely not return production to pre-shut in levels for various reasons – including damage to the formation due to well suspension operations, low reservoir pressures, and other equipment failures. In some of the gas fields, we may never recover. Because of these license problems and uncertainty of shut-in duration, we were forced to delay much needed improvements and investments,” Deputy Board Chairman of Ukrnafta Mavriky Kalugin said.