Ukrnafta drills well with flowrate of 65 tonnes of oil per day

MOSCOW. Nov 5 (Interfax) - Ukrnafta has drilled and commissioned its deepest well for eight years with true vertical depth of 4,520 meters, Ukrainian media reported, quoting a company press release.

"As of November 3, the oil flowrate was 65 tonnes per day and gas was 21,500 cubic meters per day," company chief Sergei Koretsky was quoted as saying.

He also expressed his gratitude to partners Energofinance LLC and the Ukrnafta R&D Institute's Geology and Field Development Department and Drilling Department for their efforts and support.

Energofinance did its work on a turnkey basis as external contractor after winning a tender on the government's Prozorro platform. This is the first of two wells at the field that the contractor is drilling.

"Flows of oil and gas were after the horizon was perforated at 4,481.5-4,472.5 meters," Ukrnafta said.

The well was planned as an exploratory well with the aim of identifying Visean deposits. It was built ahead of schedule, despite its considerable depth and challenging geological conditions.

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 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.