Ukrnafta has produced incremental 17.2 ktonnes of oil from 22 wells in Dolynske and Severo-Dolynske fields where the company started deploying new higher-capacity electric submersible pumps (ESPs) late last year. This result has been achieved in 9 months, ahead of the original plan that envisaged the incremental increase in production of 16.5 ktonnes of oil over a 12-month period. The aggregate incremental daily oil yields from these wells have improved by 80 tons to 140 tons per day. The company also produced 5.5 mln m3 of gas since the commencement of the project. These successful investments to stabilize and increase production allowed Ukrnafta to pay more tax and was essential to develop optimally the hydrocarbons reserves in these fields in accordance with the legal requirements of the license.
Between November 2016 and May 2017, the 22 wells operated by Dolynanaftogas (Ukrnafta’s oil & gas production division) were outfitted with new high-capacity electric submersible pumps (ESPs) as part of the pilot project to optimize well performance in the Western region. All of these wells were also equipped with sensor systems enabling remote monitoring of ESP performance. Ukrnafta is implementing similar well optimization projects at 8 fields in Sumy and Chernihiv oblasts.
Modernization of well equipment and optimization of its performance at the existing wells has been one of the important factors behind stabilization of daily yields of oil and condensate at Ukrnafta. Unfortunately, at the current time, Ukrnafta is forced to revise down the 2017 investment program and consider other urgent cost-cutting measures due to non-extension of its 9 licenses for oil and gas production and related financial losses. As the company is forced to stop production and reduce investments, this will have significant negative effect on current and future production and financial results.
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