2023-04-12T17:04:00+03:00 Economy 2024-09-15T05:37:55+03:00

Ukrainian news

Ukrnafta Plans Joint Development Of Fields With UkrGasVydobuvannya

Ukrnafta Plans Joint Development Of Fields With UkrGasVydobuvannya

Ukrnafta, the largest oil producer, and UkrGasVydobuvannya, the state-owned natural gas producer, have begun exploring opportunities for joint oil and gas production in a number of license plots, where one company is the owner of production permits and wells belong to another.

This is stated in the message of Ukrnafta, Ukrainian News Agency reports.

Currently, companies are consulting on license plots where it is possible to deploy this project, as well as analyzing the necessary technical and regulatory issues to move to practical work.

"In addition to this project, UkrGasVydobuvannya and Ukrnafta are also considering cooperation in other areas, in particular on the sharing of land infrastructure and the exchange of geological data on adjacent license plots. Moreover, companies have begun discussing potential joint exploration and development of oil and gas fields," the report said.

As Ukrainian News Agency earlier reported, Ukrnafta plans to increase oil production by 6% to 1.45 million tons in 2023 compared to 2022.

In 2022, Ukrnafta reduced oil production by 8.6% to 1.37 million tons compared to 2021.

Earlier, the shares of Motor Sich, Ukrnafta, AvtoKrAZ, Zaporozhtransformator (ZTR) and Ukrtatnafta companies were alienated into state property for the period of martial law, after its termination they may be returned to their owners or their value will be reimbursed.

UkrGasVydobuvannya is the largest natural gas producer in Ukraine, 100% of the company's shares belong to Naftogaz.