2023-05-30T11:43:00+03:00 Politics 2024-09-15T05:27:40+03:00

Ukrainian news

Ukrnafta plans to resume production at previously sealed wells

Ukrnafta plans to resume production at previously sealed wells

The largest oil-producing company Ukrnafta plans to review the well fund in detail to restore some wells.

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

"As of now, 4,300 wells within the limits of Ukrnafta's special permits have been liquidated. Some of them are for geological reasons, and most of them are for technical reasons: accidents, broken tools, pipes, crushed columns, etc. Accordingly, reserves within these wells remained undrained. We will review in detail the entire huge fund of wells with the aim of its restoration - by drilling lateral horizontal shafts, heavy capital repairs, or drilling backups of such wells," Ukrnafta director Serhii Koretskyi said.

The company also plans to lease liquidated wells of other companies on special permits of Ukrnafta, as well as to lease wells of Ukrnafta located within the limits of special permits of other companies (more than 1,300 of them).

"Even 10% of successful recovery from the total number of liquidated wells - a total of 5,600 such wells - is 560 wells, i.e., +30% to the company's active mining fund," Koretskyi noted.

As the Ukrainian News agency earlier reported, Ukrnafta reported a profit of UAH 4.3 billion for the first quarter of 2023.

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

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

Subsequently, the assets may be returned to their owners, or their value may be reimbursed.