Ukrnafta produces extra 5,300 tonnes of oil following well workovers

MOSCOW. Oct 3 (Interfax) - Ukrnafta produced just under 5,300 tonnes of additional oil thanks to well workovers in the period January-July 2024.

"Partners who won tenders on the Prozorro platform for government contracts carried out six well interventions," Ukrainian media reported, quoting a company press release.

The company also produced an extra 8.061 million cubic meters of gas as of August 20234 as well as the 5,300 tonnes of oil, company chief Sergei Koretsky was quoted as saying.

Ukrnafta expects to produce an additional 23,000 tonnes of oil and 30 mcm of gas in total this year.

Ukrnafta is Ukraine's largest oil producer and operator of the national chain of filling stations. The company started to operate the Glusco network in March 2024 and now operates 545 filling stations in total - 460 under its own brand and 85 under management.

The biggest shareholder is Naftogaz with 50% plus one share. The Headquarters of the Supreme Commander-in-Chief ruled in November 2022 to expropriate Ukrnafta shares owned by private shareholders - that stake is now controlled by the Defense Ministry.