Ukrnafta increased oil production by 4.7% in 2020

Ukrnafta PJSC in 2019 increased the oil and condensate production by 4.7%, to 1.516 million tons and gas production – by 7.5%, to 1.16 billion cubic meters, compared to the last year, the press service of the Company reports.

Reportedly, the average daily production of oil and condensate increased by 4.6%, to 4.15 thousand tons per day, compared to 2018 – 3.97 thousand tons per day. Daily gas production also increased from 2.96 million cubic meters per day to 3.18 million cubic meters per day.

A project on introduction of the remote monitoring of the wells equipped with electric centrifugal pumps is ongoing. In 2019, eighty four wells have been added to the system now covering 196 wells.

In total, last year Ukrnafta carried out seven HF operations, completed CWO in 160 wells, carried out 57 production intensification operations and commissioned 121 wells from the inactive inventory. Due to these measures, additional 173.4 thousand tons of oil and condensate and 138.1 million cubic meters of natural gas were received, the company emphasized.

Deputy Chairman of the Board, Executive Vice President for Production and Processing, Mauritius Kaluhin: “This result is a credit to the entire team. I am always amazed at the ingenuity and innovation that our professionals use to solve issues. For example, I know that money is not enough, but they are still capable to solve the problems they face daily. Due to this, we are able to increase production for two years in a row. At the same time, longterm growth is not possible without an adequate investment. Ukrnafta needs investments of $ 100 million annually. This will allow us investing in promising projects and drilling new wells.”

16:00 / 30 January, 2020

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