Ukrnafta's production has increased
Ukrnafta's production has increased

According to the operational data, in March-April 2020 Ukrnafta produced 257.2 ktonnes of oil and condensate and 200.8 million m3 of gas, which, respectively, is 1% and 3.4% more than in the same period in 2019. Average daily hydrocarbon production in March-April amounted to 4.22 thousand tons of oil and condensate and 3.29 million m3 of gas, slightly more than in the same period last year.

The company managed to achieve positive production results with limited investment resources through a number of operations on its existing well stock: transition to new productive horizons, optimization of capital and current workovers of prospective wells, as well as replacement of obsolete equipment.

In total, during the 1st quarter of 2020, Ukrnafta completed workovers at 38 wells, performed 8 production intensification operations and put 59 wells out of operation. 

Average daily production rates

March

2020

March 2019

Y-o-y change, %

April

2020

April

2019

Y-o-y change, %

Production of crude oil and condensate, ktonnes

4,2

4,16

0,96

4,23

4,19

0,95

Gas production,

mln m3

3,25

3,23

0,62

3,33

3,14

6,05

 

 

 

 

 

 

 

 

 

"Ukrnafta has performed well, given the complicated circumstances for oil companies. Today our main priority is to avoid staff cuts. For this purpose, we have already reviewed the investment program and changed the plan of capital workovers. At the same time, a slowdown in production growth can be expected against the backdrop of reduced capital and operating costs," said Deputy Chairman of the Executive Board, Executive Vice President for Upstream Mavriky Kalugin.