Ukrnafta increases gas production by 10.7%, to 92.1 mcm, in Feb

14:49, 26.03.2024 1 min read

PJSC Ukrnafta in February 2024 produced 110,300 tonnes of oil and 92.1 million cubic meters of gas against 110,200 tonnes of oil and 83.2 million cubic meters of gas in February 2023.

Thus, gas production in February increased by 10.7% compared to the same month last year.

“The company continues to drill new wells, intensify production at fields and re-equip obsolete equipment to equipment that meets API standards,” the company said in a press release on Tuesday.

As reported, Ukrnafta in 2023 increased oil and condensate production by 3% (by 39,900 tonnes) compared to 2022 - to 1.410 million tonnes, gas - by 5.8% (by 60.4 million cubic meters), to 1.097 billion cubic meters.

The company sets a strategic goal of doubling oil and natural gas production to 3 million tonnes and 2 billion cubic meters by 2027, respectively.

The largest shareholder of Ukrnafta is NJSC Naftogaz Ukrainy with a stake of 50% plus one share.