Public Joint Stock Company "Ukrnafta" is actively engaged in operations to enhance oil production by involving external contractors, resulting in a 4.2 times increase in output at treated wells, with additional extraction amounting to nearly 13,000 tons of oil and over 6 million cubic meters of gas.
"One of the most effective methods for intensification is hydraulic fracturing (HF). Its application increases the permeability of the reservoirs and boosts well productivity," the company's press release stated on Wednesday.
Some operations are carried out by engaged partners. Specifically, out of 35 planned well operations for HF, an external contractor has completed 33 HF operations in the east and west of Ukraine. More than 20 wells are already in operation.
"Project targets for additional extraction have been achieved at over 90% of the facilities, with a success rate of 92%. Overall, the cumulative output has increased 4.2 times, from 71.8 to 303.7 tons per day. This has resulted in additional extraction of over 12.7 tons of oil and more than 6.4 million cubic meters of gas," noted the director of "Ukrnafta," Sergey Koretsky.
As the company added, considering the successful and positive results, the program will continue: in the first half of 2025, the external contractor has planned 30 additional HFs.
"Ukrnafta" is the largest oil production company in Ukraine and operates the national network of gas stations. In March 2024, the company took over the management of Glusco's assets and currently operates 547 gas stations – 462 owned and 85 under management.
The company is implementing a comprehensive program to restore operations and update the format of its gas station network. Since February 2023, it has been issuing its own fuel vouchers and "NAFTAКарта" cards, sold to legal entities and individuals through LLC "Ukrnafta-Pochtach."
"Ukrnafta" holds 92 special permits for the industrial development of fields. It has 1,832 oil and 154 gas production wells on its balance sheet.
The largest shareholder of "Ukrnafta" is the National Joint Stock Company "Naftogaz of Ukraine," which holds a stake of 50% + 1 share.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.