Ukrnafta to start drilling nine wells by end-2023, 30 more in 2024

MOSCOW. Aug 4 (Interfax) - PJSC Ukrnafta plans to start drilling nine new wells before the end of 2023, Ukrainian media reported, citing company head Sergei Koretsky.

He said the company would drill four of them on its own and five with drilling companies.

Ukrnafta plans to drill 30 new wells in 2024.

Koretsky said the company was "working actively in the field of subsoil use." It has renewed one special permit and extended another. Four have been amended and 12 documents are being drafted to expand borders. Work is also underway to acquire new special permits.

Together with Geoinform of Ukraine, the company has carried out work to identify wells within the framework of the special permits of other subsoil users. These wells should gradually be put into service, based on the results of the work.

Ukrnafta, which has been under the state's full control since the end of 2022, has the strategic goal of doubling oil and natural gas production by 2027, to 3 million tonnes and 2 billion cubic meters respectively, reports have said. Ukrnafta plans to increase oil production 5.8% to 1.45 million tonnes and gas 0.3% to 1.04 billion cubic meters in 2023.

Ukrnafta had 89 fields with 23 million tonnes of proven reserves and 1,806 active oil wells and 152 gas wells as of the end of March 2023.