Business news from Ukraine

Business news from Ukraine

“Ukrnafta” announced tender for VHI with budget of 183 million UAH

PJSC “Ukrnafta” on March 24 announced a tender for Medical Insurance of employees.
As reported in the Prozoro system, the expected cost is UAH 182.980 mln.
Applications for participation in the tender will be accepted until April 1.

 

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“Ukrnafta” has installed 30 automatic reagent dosing systems at wells and plans to install another 60 in 2025

PJSC Ukrnafta has started implementing new systems for dosing liquid reagents at oil and gas wells, continuing the transition to modern equipment from world leaders.

“We have already installed 30 automatic dosing units at wells in the eastern and western regions,” the company’s press service toldInterfax-Ukraine on Friday.

According to the press release, the injection of reagents into wells protects underground equipment from corrosion, formation of mineralized and paraffinic deposits, well drainage and other complications.

With the old method, oil companies had to periodically use special vehicles and obsolete pumping equipment to supply reagents, which is inefficient and economically unprofitable compared to the new technology, the company explained.

At the same time, modern systems allow for the use of a wider range of higher quality reagents and a smaller amount of them. They are equipped with remote control and monitoring of pumping equipment, as well as remote control of well pressure. The pumping equipment has low power consumption, which is especially important in the current environment.

“In 2025, the company plans to install 60 new systems complete with a capillary tube for injecting chemicals directly to the wellhead, and plans to purchase more than 50 similar systems,” Ukrnafta said.

“Ukrnafta is the largest oil company in Ukraine and the operator of the national network of filling stations. In March 2024, the company took over the management of Glusco assets and operates a total of 544 filling stations – 461 owned and 83 managed.

The company is implementing a comprehensive program to restore operations and update the format of its filling stations. Since February 2023, the company has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.

“Ukrnafta holds 92 special permits for commercial development of fields. It has 1832 oil and 154 gas production wells on its balance sheet.

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.

“Ukrnafta” plans to drill 30 new wells in 2025

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.

“Ukrnafta” to increase 3D seismic exploration to 800 sq km in 2025

In 2025, Ukrnafta plans to explore at least 800 square kilometers of acreage using 3D seismic technologies, up from 600 square kilometers explored in 2024.

“In 2024, Ukrnafta explored 600 square kilometers of technological area using 3D seismic technologies. In total, this is eight fields and areas of the company,” the company said in a press release on Wednesday.

The last time the company carried out such operations was more than 10 years ago.

“All the information obtained will form the basis for building digital geological models of the fields and will also become the basis for forming decisions based on artificial intelligence. The built digital models of the fields will allow us to clearly understand where the resource is located and plan new exploration drilling more accurately,” said Sergiy Koretsky, Ukrnafta’s CEO.

According to the company, the field phases of 3D surveys were conducted in difficult conditions: they worked in all seasons, on the highlands and in the lowlands of rivers and wetlands. In particular, the project was implemented in difficult mountainous conditions: for the first time in Ukraine, using a wireless data recording system.

“Ukrnafta is the largest oil company in Ukraine and the operator of the 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.

“Ukrnafta” plans to introduce 200 MW of renewable energy

Ukrnafta PJSC, which with the help of the European Bank for Reconstruction and Development (EBRD) has planned projects to generate power from its own gas with a total capacity of up to 370 MW, is additionally working to attract investment to build renewable energy capacity such as solar and wind, said supervisory board chairman Duncan Nightingale.

“We want to introduce about 200 MW of renewable energy over the next two years,” he said in a blitzing interview with Interfax-Ukraine.

Nightingale recalled that, according to agreements with the EBRD, in addition to loan funds, the bank is providing the company with grant support worth several tens of millions of euros.

“All these funds will be used for the construction of gas generation. At the first stage we plan to build about 375 MW of new gas to power capacities,” the chairman of the Supervisory Board specified.

According to him, initially Ukrnafta’s plan until 2028 provides for the introduction of about 1 GW of new electricity and heat generation, as well as storages (for energy storage – IF-U), which will require significant investments.

“We plan to attract funds from current donors, national and international banks, and investors. The main task is to direct the company’s funds to the main activities to increase hydrocarbon production, and energy projects should be self-sufficient, including the attraction of financing,” Nightingale emphasized.

He thanked investors who are now supporting Ukrnafta on the way to building gas generation.

“Ukrnafta realizes the importance of traditional energy sources, especially under the conditions of martial law. At the same time, we use gas as a transition fuel for power generation. This allows us to work on environmentally sustainable solutions for the future,” summarized the Chairman of the Supervisory Board.

“Ukrnafta is Ukraine’s largest oil producer and is the operator of the national network of gas stations. In March 2024, the company entered into Glusco asset management and operates a total of 544 filling stations – 461 owned and 83 under management.

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

Read the full blitzinterview with PJSC Ukrnafta Supervisory Board Chairman Duncan Nightingale on the sidelines of the Ukrainian House in Davos soon on the agency’s website www.interfax.com.ua.

 

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“Ukrnafta” plans to generate up to 370 MW of energy from its own gas

PJSC Ukrnafta is working on implementing projects to generate energy from its own gas with a total capacity of up to 370 MW.

According to the company’s press release, this was announced by Duncan Nightingale, Chairman of the Supervisory Board of Ukrnafta, during the World Economic Forum in Davos.

He thanked the governments of Sweden, Norway, the Netherlands and the United States, as well as the European Bank for Reconstruction and Development (EBRD) for their support on the path to sustainable development and invited new partners to join the implementation of ambitious promising projects.

“We need to invest in Ukraine now. If you wait for the war to end, you may lose the most profitable projects,” Nightingale emphasized.

For his part, EBRD Vice President Matteo Patrone noted the positive financial results achieved by the company and improvements in the management system.

“They (Ukrnafta – IF-U) have demonstrated not only excellent financial results, but also true corporate governance. This is the achievement of Sergiy (Koretsky) and the Board. If two years ago I had been asked whether we would support Ukrnafta, I would have said no. But what has happened over the past 18 months is simply amazing,” he said.

“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 547 filling stations – 462 owned and 85 managed.

The company is implementing a comprehensive program to restore operations and update the format of its filling stations. Since February 2023, the company has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.

“Ukrnafta holds 92 special permits for commercial development of fields. It has 1832 oil and 154 gas production wells on its balance sheet.

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.

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