PJSC Ukrnafta has started drilling a new exploration oil well at a field located in western Ukraine.
“This will be an exploration well with a design depth of 1211 meters. The expected initial flow rate is 22.6 tons of oil per day. The productive horizon is the Stryian deposits,” the company said in a press release on Thursday.
The well is being constructed by a contractor, Navigator Komplekt LLC, which was selected through the Prozorro online procurement platform.
“It is worth noting that the contractor will drill three wells sequentially from one site,” 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.
The company’s strategic goal is to double oil and natural gas production to 3 million tons and 2 billion cubic meters by 2027, respectively.
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 to the state a share of corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense.
