Ukrnafta starts drilling first of 30 wells planned for this year

MOSCOW. Feb 5 (Interfax) - Ukraine's Ukrnafta has started the drilling a new inclined well in the country's northeast with projected depth of 3,314 meters and initial flow rate of 26.5 tonnes of oil per day.

The well will be use to explore the productive horizon of Lower Carboniferous Visean deposits and for its subsequent development, Ukrainian media quoted company head Sergei Koretsky as saying on social media.

Ukrnafta Drilling will drill the well using its own ZJ-40 drilling rig with lifting capacity of 225 tonnes.

"This is the first of 30 wells that Ukrnafta plans to begin drilling using its own drilling equipment in 2024," Koretsky said.

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.