PJSC Ukrnafta increased oil and condensate production in 2023 by 3% (39,900 tonnes) compared to 2022, to 1.4 million tonnes, the company's press service reported on Monday.

Production of natural and associated petroleum gas last year amounted to almost 1.1 billion cubic meters, which is 5.8% (60.4 million cubic meters) more than in 2022.

"I'm grateful to the company's team for not only holding back the natural decline in a full-fledged war year, but also increasing production. In difficult conditions, you made every effort, and even more, to achieve results," Ukrnafta director Serhiy Koretsky said.

According to him, in 2024, Ukrnafta plans to drill new wells and intensify production, invite partners to the fields and replace old Soviet and Russian equipment with modern world models.