Ukrnafta's production in January amounted to 124 ktonnes of oil and condensate
Ukrnafta's production in January amounted to 124 ktonnes of oil and condensate

According to the operational data, in January 2021 Ukrnafta produced 123.6 ktonnes of oil and condensate and 91.2 million m3 of gas, which, respectively, is 4.6% and 10,1% lower than in the same period in 2020. Average daily hydrocarbon production in January amounted to 3.99 thousand tons of oil and condensate and 2.94 million m3 of gas, slightly lower than in the same period last year.

The decrease in production is primarily due to the high degree of depletion of the Company's main fields and a limited investment programme. In addition, the COVID-19 pandemic and the drop in hydrocarbon prices had a negative impact on the investment plans of all companies without exception.

The main focus is on operational efficiency when working with the existing well stock: transition to new productive horizons, optimization of capital and current repairs of prospective wells, replacement of critically worn-out equipment. In January Ukrnafta completed 1 hydraulic fracturing operation, 14 capital workovers, brought 13 wells out of inactivity and performed 1 operation with coiled tubing unit without a workover crew. 

Average daily production rates

January

2021

January

2020

Y-o-y change, %

Production of crude oil and condensate, ktonnes

3,99

4,18

-4,55

Gas production,

mln m3

2,94

3,27

-10,1