Ukrnafta to use artificial intelligence in exploration and development

MOSCOW. May 30 (Interfax) - A department for the application of artificial intelligence in the exploration and development of oil and gas fields will be opened on the basis of PJSC Ukrnafta's Research and Design Institute of in Ivano-Frankovsk, Ukrainian media said, quoting an Ukrnafta press release.

"Artificial intelligence is one of many areas of interest to us, and we are inviting innovators, scientists, anyone interested in scientific and technological progress in hydrocarbon production to collaborate," CEO Sergei Koretsky was quoted as saying during the Third Lvov Anti-Crisis Oil and Gas Conference organized by Newfolk NCC.

According to the press release, this concerns areas like prospecting, exploration, development, the selection of well stimulation and enhanced oil recovery methods, operations efficiency forecasting and determining the locations of wells of various categories.

Ukrnafta's oil production averaged at 3,926 tonnes per day in Q1 2023, up from 3,753 tonnes a year previously. Ukrnafta reduced output of gas with condensate 8.6% in 2022 to 1.37 million tonnes. It plans to increase oil production 5.8% to 1.45 million tonnes and gas 0.3% to 1.04 billion cubic meters in 2023.

The Headquarters of the Supreme Commander-in-Chief ruled on November 5 to expropriate Ukrnafta shares, except for the stake held by Naftogaz, as military assets while martial law remains in effect. A stake of about 42% was owned by the firms belonging to Igor Kolomoisky and Gennady Bogolyubov prior to the expropriation.

Ukrnafta held 89 hydrocarbon development licenses with 3,700 oil and gas wells as of the end of March 2023. It operated 451 filling stations.