PJSC Ukrnafta has begun implementing the standards of The American Petroleum Institute in its activities, the company said in a press release on Thursday.

“Until 2023, the company was guided by outdated, still Soviet, work standards. Accordingly, this affected all business and technological processes and did not allow it to develop at the desired pace. Now this is changing,” the document explains.

The company, in particular, signed a memorandum with The American Petroleum Institute, began purchasing modern equipment for production, service and intensification - this year alone, modern pumps from Germany's Oil Dynamics, the U.S.-based Baker Hughes and Alkhorayef Petroleum from Saudi Arabia will be installed at 150 of the company’s wells.

“However, the most important thing, the basis of all processes is the implementation of standards itself, because these are the norms and rules by which industry operates throughout the civilized world. The first important step in this direction has already been taken: an agreement has been signed with The American Petroleum Institute for the receipt and translation industry standards," the company noted.

Initially, 314 API standards have been defined, 20 of them related to drilling, exploration, production and stimulation, have already been received and their translation has begun.

To ensure maximum professionalism, specialists from the Ivano-Frankivsk National Technical University of Oil and Gas were involved.

After translation, each standard will be accepted and implemented into business processes, employee training will begin and the compliance monitoring system will be operational.

"Why is this important: because it allows us to bring a total of 100 years of experience in global oil and gas production into the processes of Ukrnafta. The American Petroleum Institute has been defining and maintaining the standards of the global oil and gas industry since 1924. These are operating rules written on the basis of a century of experience and modern trends that increase safety, reduce costs, waste and ensure the quality of the final product,” the company explained.

Ukrnafta added these would be the first API standards available in the Ukrainian language.