Ukrnafta boosts flowrate of well in Poltava region to 104 tonnes of oil after workover

MOSCOW. Oct 16 (Interfax) - PJSC Ukrnafta has completed a workover operation at a well in the Poltava region, increasing its flowrate from 0.2 tonnes to 104 tonnes of oil per day.

"A workover at one of the wells was carried out following a proposal by the well management directorate with the aim of conducting follow-up exploration of Bashkirian deposits in sections of the field previously identified as potential pay zones," Ukrainian media reported, quoting a company press release.

The well produced 5,200 cubic meters of gas and 0.2 tonnes of condensate per day prior to the workover. Commercial flows of oil and gas were obtained after the operation was completed. The initial daily flow rate reached 104 tonnes of oil, 520 times more than before the workover, as well as 51,500 cubic meters of gas.

"I want to thank the Ukrnafta team for not only increasing hydrocarbon production but also confirming the importance of follow-up exploration at fields for the company's development," the press release quoted Sergei Koretsky, CEO of Ukrnafta, as saying.

The well is now operating in pilot mode. This will facilitate additional geological data collection about the deposit, which is important for evaluating the whole field's reserves.

Ukrnafta is Ukraine's largest oil producer and operator of the national chain of filling stations. The company started to operate the Glusco network in March 2024 and now operates 545 filling stations in total - 460 under its own brand and 85 under management.

The company is carrying out a comprehensive program for resuming its operations and reformatting its own network of filling stations.

The biggest shareholder is Naftogaz with 50% plus one share. The Headquarters of the Supreme Commander-in-Chief ruled in November 2022 to expropriate Ukrnafta shares owned by private shareholders - that stake is now controlled by the Defense Ministry.