PJSC Ukrnafta transferred UAH 3.9 billion of dividends to the state budget as an advance payment based on the results of its business activities in 2023, said the company’s CEO Sergiy Koretsky.
“This is the first installment. In total, more than UAH 8 billion will be paid according to the schedule. This is twice as much as the total for the previous 10 years,” he wrote on his Facebook page.
As reported, the Cabinet of Ministers, by its Resolution No. 163-r of February 27, 2024, ordered Naftogaz of Ukraine, Ukrzaliznytsia, Ukrhydroenergo, Ukrainian Energy Machines, Nizhnednistrovska HPP, and Ukrainian Defense Industry to transfer to the state budget at least 50% of the annual dividends on the state share for 2023 in advance by March.
“Ukrnafta is the largest oil company in Ukraine, which operates a national network of 537 gas stations, of which 456 are operational.
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.
In January 2024, PJSC Ukrnafta increased oil and condensate production by 0.2% (by 0.27 ktonnes) compared to January last year to 121.08 ktonnes, and gas production by 8.3% (by 7.77 mcm) to 100.91 mcm.
According to the company’s press release, the total production in oil equivalent of hydrocarbons amounted to 207.87 ktonnes, which is 3.5% more than in January 2023 (200.92 ktonnes).
“I am grateful to the company’s specialists who continue to increase the production of Ukrainian resources for the second year in a row. We continue to drill new wells, implement production stimulation measures and upgrade old equipment to API standards,” Ukrnafta CEO Serhiy Koretsky said in a statement.
As reported, in 2023, Ukrnafta increased oil and condensate production by 3% (by 39.9 thousand tons) compared to 2022 – up to 1 million 409.9 thousand tons, gas production – by 5.8% (by 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.
condensate, GAS, OIL, UKRNAFTA
PJSC Ukrnafta is starting construction of a new directional well in the northeast of the country with a design depth of 3314 m and a projected initial oil production rate of 26.5 tons per day.
According to the company’s CEO Sergiy Koretsky on Facebook, the drilling is planned to explore the productive horizon of the Lower Carboniferous Visean deposits and its further exploitation.
The well will be drilled by Ukrnafta Drilling, the company’s division, using its own ZJ-40 drilling rig with a 225-ton capacity.
“This is the first of 30 wells that Ukrnafta plans to start drilling with its own drilling equipment in 2024. I am grateful to the team – geologists, drillers, engineers – who are working to ensure that the Ukrainian oil industry develops and brings the country a valuable resource,” Koretskyi said.
As reported, in 2023, Ukrnafta increased oil and condensate production by 3% (by 39.9 thousand tons) compared to 2022 – up to 1 million 409.9 thousand tons, gas production by 5.8% (by 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.
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.
For the first time in its history, Ukrnafta received million-dollar dividends in 2023 from the transportation and production company Naftotransservice and the security firm Security, in which it holds a 49.9% stake.
“The general meeting of shareholders of Naftotransservice LLC decided to pay dividends for 2020, 2021, 2022 – a total of about UAH 6.3 million. As for Security LLC, it is almost UAH 14 million for the same period plus for the first nine months of 2023,” the company said, citing Serhiy Koretsky, Ukrnafta’s CEO.
Thus, the total revenue exceeded UAH 20 million.
The next dividend payment for 2023 is expected in February 2024 from both companies.
“These are the first funds from the results of their operations since 2020,” the company emphasized.
“Ukrnafta is the largest oil company in Ukraine, which operates a national network of 537 filling stations, of which 456 are operational.
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.
PJSC Ukrnafta plans to start construction of 30 new wells in the west and east of the country in 2024, the company said in a press release citing the company’s director Serhiy Koretsky on Monday.
“In 2024, we plan to start construction of 30 new wells in the East and West of the country, some of which may become transitional wells due to the full utilization of our own rigs and the small capacity of the drilling market in Ukraine,” the CEO said.
According to him, Ukrnafta does not rule out the possibility of accelerating the processes through cooperation with international and Ukrainian partners.
“I am grateful to drillers, geologists, engineers and partners for the fact that Ukraine can increase production of the resource,” Koretsky added.
As reported by the company, Ukrnafta commissioned eight new wells in western and eastern Ukraine in 2023 with a total production rate of 238 tons of oil per day. Five wells were drilled with the company’s own drilling rigs, and three were drilled with the help of contractors who won tenders in the state procurement system Prozorro.
“Nine new wells were planned, and we held a tender for the last one at the end of 2023, but it takes time to bring the equipment to the site. Drilling will begin in the coming days,” the company said.
As reported, in 2023, Ukrnafta increased oil and condensate production by 3% (by 39.9 thousand tons) compared to 2022 – up to 1 million 409.9 thousand tons, gas production by 5.8% (by 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.
