Business news from Ukraine


25 January , 2022  

PrJSC Ukrnaftoburinnia (UNB) produced 691.3 million cubic meters of gas in 2021, which is 5% less than in 2020 (725.4 million cubic meters), according to a company press release on Tuesday.
According to the document, the volume of oil/condensate production decreased by 6% (by 4,200 tonnes) and amounted to 76,600 tonnes.
In general, gas production at Sakhalynske field last year amounted to 789.5 million cubic meters, and oil/condensate production – 80,800 tonnes.
“The UNB production indicators show a slight decrease compared to the previous year. The primary reasons for it included the forced reduction in the capital investment program and cancellation of the drilling program in the crisis year of 2020 and a natural decline in well flow rates at Sakhalynske field as it gradually depletes,” the press release says.
At the same time, in 2021, the company resumed its drilling program. In April, it completed new well No. 22 of 4,565 m. The initial daily flow rate of the well is 280,000 cubic meters of natural gas and 30 tonnes of condensate.
According to UNB, in 2021, the company completed workovers of eight wells. Well No. 54 was transferred from gas-lift to submersible pumping operation by installing a sucker rod pumping (SRP) at 3,251 m deep being the deepest sucker rod pump installation in Ukraine. Moreover, a large-scale investment project to construct a booster compressor station at Sakhalynske field is being implemented.
“UNB continues to implement investment projects aimed at further efficient development of Sakhalynske field and plans to drill another well and put it into operation in the first half of 2022,” the company said.
In the next two years, UNB also plans to expand the geography of production in Ukraine beyond Sakhalynske field.
“The team and I have very ambitious plans for 2022, aimed not only to maintain production at Sakhalynske field but also to find new investment opportunities outside it. Of course, the implementation of these plans will largely depend on what mechanisms the state will use to deal with the energy crisis in the country and how they will affect private gas companies,” Chairman of the Executive Board of Ukrnaftoburinnia Mykhailo Bakunenko said.
PrJSC Ukrnaftoburinnia is one of the largest private gas production companies in Ukraine. Since 2010, it has been developing Sakhalynske oil, gas and condensate field (Krasnokutsk district, Kharkiv region).