Ukrnafta ups gas production 10.7% in Feb

MOSCOW. March 26 (Interfax) - PJSC Ukrnafta raised gas production 10.7% year-on-year in February 2024 while oil production remained almost flat.

"Ukrnafta produced 110,300 tonnes of oil and 92.1 million cubic meters of gas in February 2024 against 110,200 tonnes of oil and 83.2 million cubic meters of gas in February 2023," Ukrainian media reported, quoting the company.

The company said it continued to drill new wells, intensify production at fields and to "replace obsolete equipment with equipment that meets API standards."

Ukrnafta increased production of oil with condensate by 39,900 tonnes or 3% to 1,409,900 tonnes in 2023. Production of natural and associated petroleum gas increased by 60.4 mcm or 5.8% to 1.097 billion cubic meters. Ukrnafta has the strategic goal of doubling oil and natural gas production by 2027, to 3 million tonnes and 2 billion cubic meters, respectively.

It has a national network of 537 filling stations, of which 456 are operating.