PJSC Ukrnafta is launching a revitalization program and invites investors to participate in the restoration of the first 20 wells.
“An important part of the company’s strategy to increase production is the restoration of already drilled but abandoned wells that have prospects through the use of modern technologies,” the company said in a press release, citing Ukrnafta CEO Serhiy Koretsky.
Currently, 4222 such wells have been identified, of which 2100 are within Ukrnafta’s special permits, 700 of which are within the reserve contours.
“The company has selected 30 wells out of these 700 for the pilot. 10 will be restored on our own, and a tender is announced for 20. The company invites partners to help restore production at these sites by drilling horizontal sidetracks,” the document explains.
The company offers a deal based on the Risk Service Agreement, under which the investor must pass compliance and get access to the Virtual Data Room with information about the well.
“Ukrnafta, for its part, together with specialists, is forming a pool of wells, from three to 12, which will be restored by drilling at the expense of partners. The cost of restoring production from the wells is determined by bidding in the Prozorro system.
Subsequently, Ukrnafta receives an additional resource and pays for the revitalization using the funds from production from the restored wells. The partners, for their part, receive a share of the additional production from the revitalized wells.
“Any Ukrainian and international company that passes the compliance procedure can join,” 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 is the largest oil company in Ukraine and operates a national network of 537 filling stations, of which 456 are in operation. 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. 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.
PJSC Ukrnafta made a net profit of UAH 23.6 billion in 2023, the company’s CEO Sergiy Koretsky said on Facebook.
According to him, the independent audit of the financial statements was completed by Grant Thornton Ukraine on April 3.
“Dividends for last year are twice the cumulative result of the last 10 years. I never tire of thanking each and every person who works in the company, and I will emphasize once again that public administration can and should be effective,” Koretsky said.
As reported earlier, Ukrnafta’s financial plan for 2024 approved by the Cabinet of Ministers envisages net revenue of UAH 118 billion and net profit of UAH 18 billion.
In 2024, the company plans to start drilling 30 new wells, purchase equipment to stimulate production, and invest in upgrading its network.
“Ukrnafta is the largest oil producer in Ukraine and operates a national network of 537 filling stations, of which 456 are in operation. 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. 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.
PJSC Ukrnafta has bought a special license from Chernigovnaftogazgeologiya (a subsidiary of state-owned Nadra Ukrayiny), the company’s director Serhiy Koretskyy said on Facebook.
According to him, thanks to the new license, Ukrnafta will receive an increase in total reserves by 1.01 billion cubic meters of gas and 100,000 tons of oil in 56.5 square kilometers of areas in northeastern Ukraine.
Koretskyy also noted that this is the first special permit obtained by Ukrnafta in the last 14 years.
As reported, Ukrnafta in 2023 increased production of oil with condensate by 3% (by 39.9 thousand tons) compared to 2022 – to 1 million 409.9 thousand tons, gas – by 5.8% (by 60.4 million cubic meters), to 1 billion 97.4 million cubic meters.
The company’s strategic goal is to double its oil and natural gas production to 3 million tons and 2 billion cubic meters respectively by 2027.
“Ukrnafta, Ukraine’s largest oil producer, is the operator of a national network of 537 gas stations, of which 456 are operational. The company is implementing a comprehensive program to revitalize its operations and update the format of its network of gas stations. Since February 2023, Ukrnafta has been issuing its own fuel coupons and NAFTACard, sold to legal entities and individuals through Ukrnafta-Postach LLC.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share stake. On November 5, 2022, the Supreme Commander-in-Chief of the AFU decided to transfer to the state a share of the corporate rights of the company owned by private owners, which is now managed by the Ministry of Defense.
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.
In 2024, PJSC Ukrnafta increased the volume and expanded the geography of imported fuel supplies from global producers to the country, the company’s press service reported on Facebook.
According to the press service, while last year the company imported fuel from the United States, Sweden, Poland, and Greece, in 2024 it also began importing large wholesale consignments from Denmark, Slovakia, and Turkey.
“All fuels produced by such powerful companies as Orlen, HELLENiQ ENERGY, Marathon Petroleum Company and others have the appropriate certificates and, due to their optimal characteristics, are guaranteed to preserve engine life. We invite you to visit Ukrnafta filling stations and guarantee that your car will be satisfied with our quality,” the statement says.
“Ukrnafta is the largest oil company in Ukraine and operates a national network of 537 filling stations, of which 456 are in operation. 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. 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.
PJSC Ukrnafta has bought a special licence from Chernihivnaftohazgeologiya (a subsidiary of state-run NJSC Nadra Ukrayiny), the company’s director, Serhiy Koretskyy, said on Facebook.
According to him, thanks to the new licence, Ukrnafta will receive an increase in total reserves by 1.01bn cu.m. of gas and 100,000 tonnes of oil in 56.5 sq km of areas in north-eastern Ukraine.
Koretskyy also noted that this is the first special permit obtained by Ukrnafta in the last 14 years.
As reported, Ukrnafta in 2023 increased production of oil with condensate by 3% (by 39.9 thousand tonnes) compared to 2022 – to 1 million 409.9 thousand tonnes, gas – by 5.8% (by 60.4 million cubic metres), to 1 billion 97.4 million cubic metres.
The company’s strategic goal is to double its oil and natural gas production to 3 million tonnes and 2 billion cubic metres respectively by 2027.
“Ukrnafta, Ukraine’s largest oil producer, is the operator of a national network of 537 petrol stations, of which 456 are operational. The Company is implementing a comprehensive programme to restart operations and update the format of its network of petrol stations. Since February 2023, Ukrnafta has been issuing its own fuel coupons and NAFTACard, sold to legal entities and individuals through Ukrnafta-Postach LLC.
Ukrnafta’s largest shareholder is Naftogaz of Ukraine with a 50%+1 share stake. On 5 November 2022, the Supreme Commander-in-Chief of the Ukrainian Armed Forces decided to transfer to the state a share of the corporate rights of the company owned by private owners, which is now managed by the Ministry of Defence.
