Ukrnafta to drill 2 wells with a depth of 4.5 km and throughput of 100 tons of oil per day

The largest oil-producing company, Ukrnafta, is starting work on the construction of two oil wells with a depth of 4.5 km, which will collectively produce more than 100 tons of oil per day.

This follows from a statement by the company, the Ukrainian News agency reports.

According to the report, the drilling of the wells begins in August; they are built by a turnkey contractor identified on Prozorro - the company Energofinans LLC.

"The first one is planned as an exploratory, inclined one, with a design depth of 4,490 meters and a forecast flow rate of 56.6 tons per day. The second - an operational vertical - has a design depth of 4,490 meters and a forecast initial flow rate of 47 tons per day," said the director of Ukrnafta, Serhii Koretskyi.

As the Ukrainian News agency earlier reported, Ukrnafta ended 2023 with a net profit of UAH 23.6 billion.

In 2023, Ukrnafta increased oil production by 3% to 1.4 million tons.

In November 2022, the shares of Motor Sich, Ukrnafta, AvtoKrAZ, Ukrtatnafta, and Zaporizhtransformator (ZTR) were transferred to the state for the period of martial law.

After its completion, the assets may be returned to their owners, or their value may be reimbursed.