Public Joint Stock Company "Ukrnafta" reported that in 2024, it extracted 1.170 billion cubic meters of gas, which is a 6.5% increase compared to 2023 (1.097 billion cubic meters), and produced 1.418 million tons of oil, exceeding last year's figure (1.410 million tons) by 0.6%.
According to the company's press release on Thursday, the growth in hydrocarbon production for 2024 amounted to an additional 70.5 thousand tons, or 3%: 2.42 million tons compared to 2.35 million tons in 2023.
"Despite prolonged power outages that limited mechanized oil extraction, the company managed not only to compensate for natural declines but also to achieve an increase in oil and gas production," noted Serhiy Koretsky, the quoted director of "Ukrnafta," in the press release. He added that the company has improved its production indicators for the second consecutive year.
The company stated that in 2025, "Ukrnafta" will continue drilling new wells, updating equipment by replacing Soviet-era technology with modern solutions from global leaders, and intensifying production.
"Ukrnafta" is the largest oil-producing 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 managed.
The company is implementing a comprehensive program to renew operations and revamp the format of its gas station network. Since February 2023, it has been issuing its own fuel vouchers and "NAFTAКарта" cards, sold to legal and physical entities through LLC "Ukrnafta-Potach."
"Ukrnafta" holds 92 special permits for industrial development of fields. It has 1832 oil and 154 gas production wells on its balance sheet.
The largest shareholder of "Ukrnafta" is the National Joint Stock Company "Naftogaz of Ukraine," with a stake of 50%+1 share.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the state ownership of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.