Ukrnafta produced 1.3 mln tonnes of oil & condensate
Ukrnafta produced 1.3 mln tonnes of oil & condensate

For January-November of 2018 PJSC Ukrnafta factually produced the same volume of oil as for the whole year 2017. It increased its daily oil and condensate production by 5.1% up to 4.0 ktonnes/day against the similar period last year.

 

11 months 2018

11 months 2017

Difference %

Production of crude oil and condensate, ktonnes

1 324

1 259

5.1

Gas production, mln m3

986

1 018

-3.1

LPG production, ktonnes

100

106

- 5.7

Daily oil production, ktonnes

4.0

3.8

5.1

Daily gas production, mln m3

3.0

3.0

-3.1

At the same time, the average daily rate of gas production was at the level of nearly 3.0 mln m3/day, still 3.3% down against the same period of 2017. However, in October-November this indicator reached 3.1 mln m3/day, for the first time for 15 months.

Thus, the production is growing, despite natural exhaustion of wells and lack of investment in maintenance, modernization and drilling that is a result of non-solved problem of the historical tax debt and the instability of state-run auction system where Ukrnafta is obliged to sell its oil. The company reached the positive dynamics due to the renovation of efficiency of wells in six fields where it was made to stop operations in 2H2017 as well as due to the number of activities, aimed at production stimulation on the existing wells. For 11 months, within this programme, Ukrnafta completed 14 hydraulic fracturing operations, 97 capital workovers and 80 opex workovers. As of the end of November, due to the capital workovers, Ukrnafta produced additional 51.6 ktonnes of oil and condensate and 68.1 mln m3 of gas. The opex workovers resulted in incremental production of 24.1 ktonnes of oil and 7.1 mln m3 of gas.

According to the latest estimates by Ukrnafta, the oil production should increase by 5% and make up 1.45 mln t (plan – 1.38 mln tonnes, oil production for 2017 – 1.38 mln tonnes). The gas forecast is up 11% against the plan and will make up 1.08 bln m3 (plan – 0.97 bln m3, gas production for 2017 – 1.11 bln m3).