PJSC Ukrnafta has a strategic goal to ensure Ukraine’s energy independence in oil products by 2027 by doubling its oil and gas production, the Verkhovna Rada’s Committee on Energy and Housing and Utilities said Tuesday, citing the company’s director Serhiy Koretsky.
“Our company’s plan is ambitious enough, but there is a reason to announce it. Ukrnafta has every opportunity to be on the list of Ukrainian companies stabilizing the work of Ukraine’s financial and economic system,” he said during a visiting meeting of the Rada energy committee on the prospects of the Ukrainian oil refining industry in western Ukraine on June 1.
According to Koretsky, by 2027 the PJSC plans to increase oil production from almost 1.5 to 3 million tons per year. The company will achieve such indicators by drilling new wells and intensifying production, restoring production at idle wells, as well as by introducing methods to improve oil recovery at existing fields.
As Koretskyy noted, Ukrnafta started implementation of the plan to drill 9 wells in 2023 and at least 30 wells in 2024. At that, the company has been drilling 1-2 wells a year on average in recent years. “Ukrnafta also did not participate in auctions for new licenses.
“Analysis of the external environment shows that in the medium term, the company’s products will remain in demand and Ukrnafta will have the potential to develop on key markets. We believe that very soon the company will be talked about as the best employer, universal supplier of oil products and highly profitable national enterprise,” summarized the head of PJSC.
“In 2023, Ukrnafta plans to increase its oil production by 5.8% (by 0.08 million tons) to 1.45 million tons compared to the previous year, and gas production by 0.3% (by 0.003 million cubic meters) to 1.04 billion cubic meters.
On November 5, 2022, the Supreme Commander in Chief decided to confiscate Ukrnafta shares (except for the controlling interest in Naftohaz Ukrainy) as state property during the martial law. Prior to the seizure, the structures of Ihor Kolomoyskyy and Hennadiy Boholyubov owned about 42% of Ukrnafta shares.
As of the end of March 2023, Ukrnafta had 89 fields with 3.7 thousand oil and gas wells. The company operates 451 gas stations.
