Ukrnafta commissions new high-rate well in western Ukraine

MOSCOW. Dec 5 (Interfax) -Ukrnafta has drilled a new inclined well with initial daily flow rate of 25-30 tonnes of oil in western Ukraine with the purpose of exploring reserves in the Stryi formations, Ukrainian media reported, quoting the company's press office.

The work was done quickly: the1,244 meter hole was drilled in 32 days.

"During construction the well target was reached and, with the help of geophysical studies, its prospects for oil production were established. Zones of interest in this well lie at depth intervals of 886-1,122 meters and their net oil pay is more than 120 meters," Ukrnafta head Sergei Koretsky was quoted as saying.

Perforation has been carried out at an interval of 1,085-1,122 meters constituting about 30% of the Stryi formation's total net pay. Development is underway.

This is third well Ukrnafta has drilled this year within the boundaries of a specific field, and the second in partnership with LLC Drilling Company Horizons.

Another three wells should be drilled at the field before the end of the year.

Ukrnafta plans to start drilling nine new wells in 2023 and 30 in 2024, reports have said. It has the strategic goal of doubling oil and natural gas production by 2027, to 3 million tonnes and 2 billion cubic meters respectively. Ukrnafta plans to increase oil production 4% to 1.405 million tonnes and in 2023.

Ukrnafta is Ukraine's biggest oil producer. It has a national network of 537 filling stations, of which 456 are operating.

The biggest shareholder is Naftogaz with 50% plus one share. The Headquarters of the Supreme Commander-in-Chief ruled on November 5 to expropriate Ukrnafta shares owned by private shareholders.