Ukrnafta PJSC produced 1.170 billion cubic meters of gas in 2024, which is 6.5% more than in 2023 (1.097 billion cubic meters) and 1.418 million tons of oil, which is 0.6% more than in the previous year (1.410 million tons). According to the company’s press release on Thursday, production growth in oil equivalent in 2024 amounted to an additional 70.5 thousand tons of hydrocarbons, or 3%: 2.42 million tons against 2.35 million tons in 2023.
“Despite prolonged power outages that limited mechanized oil production, the company managed not only to compensate for the natural decline but also to ensure an increase in oil and gas volumes,” said Sergiy Koretsky, Ukrnafta’s CEO, as quoted in the press release. He added that the company has been improving its production figures for the second year in a row.
According to the company, in 2025, Ukrnafta will continue to drill new wells, upgrade equipment, replacing Soviet equipment with modern and technological equipment from world leaders, and intensify production.
“Ukrnafta is Ukraine’s largest oil producer and operator of the national network of gas stations. In March 2024, the company took over the management of Glusco 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.
