12 Feb 2024 15:59

Ukrnafta prepare to drill three wells in western Ukraine

MOSCOW. Feb 12 (Interfax) - Ukrnafta is preparing to drill three exploration wells in western Ukraine.

"The site is being prepared for drilling, which will begin around March. Work will be carried out in order, depending on the results of drilling previous wells," Ukrainian media reported, quoting a company press release on Monday.

The construction is being carried out by a partner - Navigator LLC - which was named as the contractor as a result of bidding on the state Prozorro platform.

"The wells will be 1,102 to 1,211 meters deep and designed to reach the pay zones of the Stryi formations," Ukrnafta head Sergei Koretsky was quoted as saying.

He said all three wells would initially produce a combined 80 tonnes of oil per day.

Ukrnafta plans to start drilling 30 new wells this year with its own rigs and with those of contractors.

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