Ukrnafta cuts extraction of oil with gas condensate by 9.2%, gas by 14.8% in 2017
PJSC Ukrnafta in 2017 reduced oil and gas condensate production by 9.2% (by 139,000 tonnes) compared to 2016, to 1.379 million tonnes, the company's press service has said.
According to its data, gas production last year fell by 14.8%, to 1.108 billion cubic meters, production of liquefied gas by 13.4%, to 116,000 tonnes.
In the fourth quarter of 2017, production of oil with gas condensate decreased by 9.9% compared to the same period in 2016, to 337,000 tonnes, gas by 22.3%, to 251 million cubic meters, LPG by 25%, to 27,000 tonnes.
According to the press service, the average daily oil and condensate production increased by 2% in the period from January to June, to 4,100 tonnes per day, declining in July-October to about 3,300 tonnes per day due to the forced halt of extraction on six fields. The daily production level resumed, though not completely, in November-December 2017.
"The main reason for Ukrnafta's reducing production of hydrocarbons was the blocking of the process of extending the company's special permits from the state. If they were prolonged on time, the level of oil, condensate and gas production would remain stable throughout the year, and the production decline in 2017 compared to the previous year would have been three times less," the company said.