Last year, Ukrnafta drilled 10 new wells and started drilling 12 more, the company said on Tuesday.
“Ukrnafta drilled 32 thousand meters in 2024, which is +280% compared to 2023,” the company said in a press release.
It is noted that 10 new wells are successful and have a flow rate higher than expected. Construction of 12 more wells began in the fourth quarter of 2024 and is currently at various stages of implementation.
The company plans to drill 30 new wells in 2025.
“Ukrnafta has launched an ambitious drilling and stimulation program at one of the company’s youngest fields – we are working with our own rigs in difficult mountain conditions,” said Sergiy Koretsky, CEO of the company.
According to the company, last year Ukrnafta acquired its first special permit at an auction, reached 91% reserve replacement ratio compared to 64% in 2023, explored 600 sq. km of eight fields and areas using 3D seismic, drilled the deepest well in the last 8 years with a depth of 4,520 m, performed 340 production stimulation operations and 69 hydraulic fracturing operations.
This year, the company plans to explore 800 square kilometers using 3D seismic and conduct 70 hydraulic fracturing operations.
“Ukrnafta is Ukraine’s largest oil producer and operator of a national network of filling stations. In March 2024, the company took over the management of Glusco’s assets and operates a total of 544 filling stations – 461 owned and 83 managed.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state a share of corporate rights of the company owned by private owners, which is currently managed by the Ministry of Defense.
