19 Jan 2024 15:46

Ukrnafta grows reserves by 330,000 tonnes oil, 618 mcm gas by extending boundaries of two licenses

MOSCOW. Jan 19 (Interfax) - Ukrnafta has grown reserves by 330,000 tonnes of oil and 618 million cubic meters of gas by extending the boundaries of two properties governed by special permits, Ukrainian media reported, quoting a statement by the company's press office.

The boundaries were extended "to align them with field's productive reservoirs".

The area governed by the first special permit is now 18.33 square km, which is 23.1% more than the previously allocated area. Total reserves increased by 217,000 tonnes of oil and condensate and 232 mcm of gas.

The second area increased 16.3% to 41.75 square km. Total reserves increased by 113,000 tonnes of condensate and 386 mcm of gas.

Ukrnafta increased production of oil with condensate by 39,900 tonnes or 3% to 1,409,900 tonnes in 2023. Production of natural and associated petroleum gas increased by 60.4 mcm or 5.8% to 1.097 billion cubic meters.

Ukrnafta has the strategic goal of doubling oil and natural gas production by 2027, to 3 million tonnes and 2 bcm respectively.

Ukrnafta is Ukraine's biggest oil producer. It has a national network of filling stations.