Ukrnafta Ukrainian oil company launches comprehensive drilling program at new oil field
PJSC Ukrnafta has drilled its first well in 13 years at one of its youngest and most promising oil fields, according to the company's press service.
The company plans to construct an additional ten new wells at the site, five in 2025 and five in 2026.
Simultaneously, pipeline capacity at the field is being expanded, as the existing infrastructure cannot handle the expected production volumes.
"We are actively working at one of Ukrnafta's youngest fields, discovered in 1990. Conditions are extremely challenging – 1,080 meters above sea level, mountainous terrain, and insufficient infrastructure. The last new facilities were built there in 2011," said the company's director, Serhiy Koretsky.
According to him, the company is using its own drilling rigs at the site, as external market operators have refused due to the complexity of the work.
Ukrnafta is Ukraine's largest oil extraction company and operates a national network of filling stations. In March 2024, the company took over the management of Glusco assets, and now operates 547 filling stations – 462 of its own and 85 under management.
The company is implementing a comprehensive program to renew operations and modernize the format of its filling stations. Since February 2023, Ukrnafta has been offering its own fuel vouchers and NAFTA Cards, which are sold to both legal entities and individuals through Ukrnafta-Postach LLC.
Ukrnafta holds 92 licenses for industrial development of fields. It has 1,832 oil and 154 gas production wells on its balance.
The largest shareholder in Ukrnafta is Naftogaz Ukrainy, which holds a 50% plus one share.
In November 2022, the General Staff of the Armed Forces of Ukraine decided to transfer the corporate rights of the company, previously owned by private shareholders, to the state. The Ministry of Defense now oversees these shares.