Ukrnafta reduced oil and condensate production in January

According to operational data, in January 2021, PJSC Ukrnafta produced 123.6 thousand tons of oil and condensate and 91.2 million cubic meters of gas, which is 4.6% and 10.1% less, respectively, compared to the same period 2020, according to the press service.

Average daily hydrocarbon production amounted to 3.99 thousand tons of oil and condensate and 2.94 million m3 of gas in January, slightly decreasing compared to last year.

“The decline in production is primarily due to a high degree of depletion of the company's main fields and a limited investment program. Besides, the COVID-19 pandemic and the fall in hydrocarbon prices had a negative impact, which affected the investment plans of all companies, without exception,” the company said.

In January, Ukrnafta completed an overhaul at 14 wells and relaunched 13 wells.

To recap, the Ministry of Energy wants to change the approach to oil sales by Ukrnafta.

Earlier, Kobolyev announced the start of negotiations with minority shareholders of Ukrnafta regarding the division of its assets.

Tags: gas, Naftogaz, oil, Kobolyev, hydrocarbon production, Ukrnafta, drilling, investments, well, COVID-19

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