Ukrnafta produced an additional 144,300 tonnes oil, 106 mln cubic meters gas in 2023

MOSCOW. Feb 5 (Interfax) - Ukrnafta produced an additional 144,300 tonnes of oil and 106 million cubic meters natural gas by carrying out organizational and technical measures in 2023, Ukrainian media reported, quoting a company press release.

It recommissioned 26 idle facilities and carried out 122 well workovers, 15 coiled tubing operations and other work.

Organizational and technical measures resulted in the production of an additional 122,200 tonnes of oil and 90.6 million cubic meters of gas in 2022.

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.

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, 2022 to expropriate Ukrnafta shares owned by private shareholders - that stake is now controlled by the Defense Ministry.