Ukrnafta ups oil production by 4.5% to 828,000 tons over 7M

In January-July 2023, Ukrnafta, the largest oil producing company, increased oil production with condensate by 4.5% to 828,000 tons compared to the same period last year.

This is stated in the company's message, Ukrainian News Agency reports.

At the same time, during the seven months of 2021, oil production with condensate amounted to 867,000 tons.

Also, over the seven months, Ukrnafta increased gas production by 6.8% to 628 million cubic meters compared to the same period last year.

For the seven months of 2021, gas production amounted to 639 million cubic meters.

"In July 2023, Ukrnafta specialists carried out 9 major repairs of wells, 5 intensifications, 5 wells were withdrawn from the dormancy, which, together with other measures, gave an additional 12,500 tons of oil and 7.7 million cubic meters of gas. In total, over the seven months, 65 overhauls, 18 intensifications, 15 intensifications without major well repair crews, 13 coiled tubing operations were carried out at the company's fields, 21 wells were removed from the dormancy. Together, these and other measures brought an additional 52,000 tons of oil and 28 million cubic meters of gas," the statement said.

As Ukrainian News Agency earlier reported, in 2023, Ukrnafta plans to increase oil production by 6% year over year to 1.45 million tons.

In 2022, Ukrnafta reduced oil production by 8.6% year over year to 1.37 million tons.

Previously, the shares of Motor Sich, Ukrnafta, AvtoKrAZ, Zaporizhtransformator (ZTR), and Ukrtatnafta were alienated into state property during the period of martial law.

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