Business news from Ukraine

Business news from Ukraine

“Ukrnafta” plans to conduct 3D seismic surveys

In 2024, PJSC Ukrnafta plans to conduct 3D seismic surveys in the west and east of the country in areas with a total area of 320 square kilometers.

“In 2024, seismic surveys in the West are planned to cover 200 square kilometers at several license areas. In the eastern region, 3D surveys are planned at three fields with a total technological area of about 120 square kilometers,” the company said in a press release on Wednesday.

According to the company, Ukrnafta’s specialists will be able to create the most accurate geological models of the facilities and successfully drill new wells to increase production.

Currently, the company is conducting large-scale 3D seismic surveys in the west of the country over an area of 77 square kilometers.

“Modern technological equipment is used there – a wireless system with almost 19 thousand accelerometer sensors that work simultaneously,” the document says.

In the east, 98 square kilometers are being surveyed using a cable data logging system that includes 6,000 geophones (4,320 sensors are working simultaneously).

“Since both areas have difficult surface conditions – mountains in the West and wetlands, forests and rivers in the East – a combination of different types of sources: vibration and explosive, is used to minimize the loss of primary information and achieve the best possible results,” the company said.

As reported, in 2023, Ukrnafta increased oil and condensate production by 3% (+39.9 thousand tons) compared to 2022 – up to 1 million 409.9 thousand tons, gas production – by 5.8% (+60.4 million cubic meters), up to 1 billion 97.4 million cubic meters.

“Ukrnafta’s strategic goal is to double its oil and natural gas production to 3 million tons and 2 billion cubic meters by 2027, respectively.

“Ukrnafta is Ukraine’s largest oil producer and operator of a national network of 537 filling stations, of which 456 are in operation.

Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share. On November 5, 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense, to the state.

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