Ukrnafta plans to increase production and drilling in 2023

19:47, 17.02.2023 1 min read

PJSC Ukrnafta plans to increase oil and gas condensate production by 6% in 2023 compared to last year, the CEO of the company Serhiy Koretsky has said.

"We set the task not only to keep the natural decline in production, but also to increase production this year by 6%," he wrote on his Facebook page, without specifying the expected volumes.

According to him, this year Ukrnafta plans to increase drilling volumes, an ambitious development strategy is also being shaped, and goals for the purchase of new licenses have been outlined.

Koretsky said that the company has passed the compliance procedures of two state-owned and one private banks, and credit lines have already been opened at all three.

In addition, Ukrnafta is working on the return of multibillion-dollar receivables and expects that the optimization processes carried out in a short time will bring hundreds of millions of hryvnias in annual savings.

The budget for 2023 was planned with record targets for net profit, he said.