Production results in H1 2020
Production results in H1 2020

PJSC Ukrnafta publishes production results for the 1st half of 2020.

Key points

• production of oil with condensate and gas remains stable (+ 0.9% and + 1.4% respectively, comparing to the previous year);

• 63 overhaul and stimulation operations were carried out on oil and gas wells that brought about additional 10.75 thousand tons of oil and condensate and 2.86 mln м3 of gas;

• 81 wells brought out of inactivity that resulted in additional 2 thousand tons of oil and 5.2 mln m3 of gas;

• completed horizontal sidetracking of well no. 119G at the Velykobubnivske field. The well continues to perform well and we the company is reviewing similar opportunities.  

 

H1, 2020

H1, 2019

Y-o-y change, %

Oil and condensate production, thousand tons

763

756

0.9

Gas production, mln m3

585

577

1.4

LPG production, thousand tons

59.2

55.1

7.4

In June 2020, PJSC Ukrnafta produced 122.5 thousand tons of oil and condensate and 92.3 million cubic meters of gas, which, respectively, is 0.9% and 2.4% less compared to the same period in 2019. Production of LPG in June amounted to 9.4 thousand tons, which is 4.9% more than in the same period of a year earlier. The average daily production of hydrocarbons in June amounted to 4.08 thousand tons of oil and condensate and 3.08 m3 of gas, slightly decreasing compared to the same period of the last year.

The company manages to maintain the production level in conditions of limited investment resources due to a number of operations on the available well stock: transition to new productive horizons, optimization of workover and maintenance of promising wells, replacement of critically worn out equipment. In general, in the first half of 2020, Ukrnafta completed  capital workovers at 63 wells, performed 9 production stimulation operations and brought 81 wells out of inactivity.  

Average daily production

June

2020

June

2019

Y-o-y, %

Oil and condensate production, thousand tons

4.08

4.12

-0.97

Gas production, mln m3

3.08

3.15

-2.2