Page 95 - UKRRptFeb24

9.2 Major corporate news 9.2.1 Oil & gas corporate news
Ukrnafta, Ukraine's leading oil company, has unveiled plans to build 30 new wells across the eastern and western regions of the country in 2024, the company said in a press release quoting Serhiy Koretsky, the company's director, Interfax Ukraine reported on January 25.
During an announcement on Monday, Koretsky outlined the strategic expansion, saying, “In 2024, we plan to begin construction of 30 new wells in the east and west of the country, some of which may become transitional due to the full load of our own rigs and the small capacity of the drilling market in Ukraine.”
Koretsky also highlighted the potential for accelerating these developments through collaborative efforts with both international and Ukrainian partners, expressing his gratitude towards the workforce and associates for enabling Ukraine to enhance its resource production capabilities.
The announcement follows Ukrnafta's successful commissioning of eight new wells in 2023, which collectively contribute a total flow rate of 238 tonnes of oil per day. The company's approach to self-reliance and strategic partnerships was evident as five of these wells were drilled using Ukrnafta's own rigs, while the remaining three were completed with the assistance of contractors selected through the ProZorro state procurement system.
Despite aiming for nine new wells in the previous year, the company faced logistical challenges with the final well. “Nine new wells were planned, a tender for the last one was held at the end of 2023, but it takes time to bring the equipment to the site. Drilling will begin in the coming days,” Ukrnafta reported, indicating a minor delay but a continued commitment to expanding Ukraine's oil production capacity.
This planned expansion by Ukrnafta is a significant move in Ukraine's energy sector, potentially bolstering the country's energy independence and economic resilience amidst ongoing regional challenges.
Ukraine’s gas national champion Naftogaz paid UAH 90.2bn ($2.7bn ) in taxes in 2023, Interfax Ukraine reported on January 15. "Over the past year, our group of companies transferred: UAH 83.4bn to the state budget, UAH 6.8bn to local budgets," Naftogaz reported on its Telegram channel. In December 2023, the group's enterprises transferred UAH 6bn to the state budget, and UAH 0.5bn to local budgets. "The energy security of our country is one of the key objectives of the Naftogaz group. However, promoting the economic development of Ukraine is no less important. We continue to remain one of the largest taxpayers for the state," the head of Naftogaz, Oleksiy Chernyshev, said on the company's website.
State oil extracting company Ukrnafta will explore 30 new wells this year.
Through cooperation with international and Ukrainian partners, Ukrnafta has not ruled out the possibility of speeding the processes up. By the end of 2023, the company had commissioned eight new wells with a total output of 238 tons of oil per day.
95 UKRAINE Country Report February 2024 www.intellinews.com