2023-03-30T11:01:00+03:00 Politics 2024-09-15T05:41:00+03:00

Ukrainian news

Ukrnafta plans to boost oil production by 6% in 2023

Ukrnafta plans to boost oil production by 6% in 2023

In 2023, the largest oil producing company Ukrnafta plans to increase oil production by 6% year over year to 1.45 million tons.

This follows from a statement by the company, the Ukrainian News agency reports.

"The production plan for 2023 is to produce 1.45 million tons of oil and condensate and 1.04 billion cubic meters of gas, but it may be revised upwards," Ukrnafta director Serhii Koretskyi said.

He noted that the company can provide 80% of additional production from existing deposits. Another 20% can be obtained by purchasing new licenses, developing experimental wells, determining potential real reserves and drilling new active wells in the future.

As the Ukrainian News agency earlier reported, in 2022, Ukrnafta reduced oil production by 8.6% year over year to 1.37 million tons.

In November 2022, Ukrnafta and Ukrtatnafta (Kremenchuk Oil Refinery, Poltava Region) were headed by Serhii Koretskyi.

Previously, the shares of Motor Sich, Ukrnafta, AvtoKrAZ, Zaporizhtransformator (ZTR), and Ukrtatnafta were alienated into state property during the period of martial law.

After its completion, the assets may be returned to their owners, or their value may be reimbursed.