Ukrnafta expects 9.1% fall in oil and gas condensate production in 2017

15:00, 14.02.2017 1 min read

Production by PJSC Ukrnafta in 2017 will amount to 1.38 million tonnes of oil and gas condensate, which is 9.1% (138,000 tonnes) less than in 2016, company head Mark Rollins has said at a press conference in Kyiv.

He said gas production by Ukrnafta in the current year would decline by 12.5% (by 163 million cubic meters), to 1.138 billion cubic meters, liquefied gas production by 18.7% (by 25,000 tonnes), to 109,000 tonnes.

Rollins said it is critical for Ukrnafta in 2017 to extend nine licenses, through which it produces 20% of the company's goods.

Ukrnafta plans in the near future (in February) to resume production in the framework of the projects of Ukrkarpatoil and Kashtan Petroleum, which will positively influence the company's work.

In addition, Ukrnafta plans in the current year to invest UAH 9.5 billion in its business, however, positive effects of these investments will be felt later.