Ukrnafta ups gas production 8%, oil with condensate flat in Jan

MOSCOW. Feb 6 (Interfax) - Ukrnafta increased production of oil with condensate 0.2% or by 270 tonnes year-on-year to 121,080 tonnes and gas production 8.3% or 7.77 million cubic meters to 100.91 mcm in January, Ukrainian media reported, quoting a company press release.

Hydrocarbon output grew 3.5% to 207,870 tonnes of oil equivalent, from 200,920 tonnes a year previously.

"We continue to drill new wells and implement enhanced production methods and to bring old equipment into line with API standards," the press release quoted the company's head, Sergei Koretsky, as saying.

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.