Ukrnaftoburinnia seeks to increase drilling to six new wells in 2018

11:52, 01.02.2018 1 min read

Private joint-stock company Ukrnaftoburinnia, which is among top three largest private gas producers in the country, plans to drill at least six new wells in 2018 compared with four drilled in 2017, the company's press service reported on Wednesday.

Ukrnaftoburinnia Head Mykhailo Bakunenko said that the company plans to boost production by 40-50% in 2018. Last year the efficient level of production at wells that were placed to the idle fund or were inefficient was restored.

Gas production by the company in 2017 grew by 50.6% or 131 million cubic meters compared with 2016, to 390 million cubic meters. Production of oil and gas condensate rose by 48.3% or 14,000 tonnes, to 43,000 tonnes.

Gas sales by the company grew to 850 million cubic meters compared with 445 million cubic meters in 2016. Sales of oil and condensate increased to 48,500 tonnes compared with 32,400 tonnes.