Ukrnafta to drill 2 more wells in west of Ukraine

Ukrnafta, the largest oil producing company, is preparing a site for drilling two exploration wells in the west of Ukraine.

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

According to the built digital 3D geological and hydrodynamic model of the field as of January 1, 2023, the initial total oil reserves in the productive horizons are 5.9 million tons, gas - 468 million cubic meters.

"The target object of exploration with subsequent operation is the menilite deposits of the Paleogene. Both wells are planned to be tilted. The first one should open productive horizons in the interval of vertical depths of 2498-2627 meters, its vertical depth is 2677 meters. Initial production is projected at 16 tons of oil per day. The second should reach the resource and open up deposits in the interval of vertical depths of 2502-2647 meters. The depth of the well vertically is 2672 meters, the initial production rate is 25 tons per day," the report says.

As 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 alienated into state ownership for the period of martial law.

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