PJSC Ukrnafta has started implementing the standards of The American Petroleum Institute in its operations, the company said in a press release on Thursday.
“Until 2023, the company was guided by outdated, Soviet-era standards of work. Accordingly, this affected absolutely all business and technological processes and did not allow us to develop at the desired pace. This is now changing,” the document explains.
In particular, the company signed a memorandum with The American Petroleum Institute and started purchasing modern equipment for production, service and stimulation – this year alone, modern pumps from German Oil Dynamics, American Baker Hughes and Alkhorayef Petroleum from Saudi Arabia will be installed in 150 wells of the company.
“However, the most important thing, the basis of all processes, is the implementation of standards, because these are the rules and regulations that the industry operates under throughout the civilized world. The first important step in this direction has already been taken: an agreement has been signed with The American Petroleum Institute to obtain and translate industry standards,” the company said.
Initially, 314 API standards have been identified, 20 of which relate to drilling, exploration, production and stimulation, and their translation has already been received and started.
The American Petroleum Institute has been defining and maintaining standards for the global oil and gas industry since 1924. These are work rules based on a century of experience and modern trends that improve safety, reduce costs, reduce waste and ensure the quality of the final product,” the company explained.
Ukrnafta added that these will be the first API standards available in Ukrainian.
“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 545 filling stations – 460 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, Ukrnafta has been issuing its own fuel coupons and NAFTAKarta cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
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, which belonged to private owners and is currently managed by the Ministry of Defense.
