PJSC Ukrnafta Reports Production Results for the Month of January 2016 and for the Year 2015
PJSC Ukrnafta reported production results for the month of January 2016 and for the year 2015. For the year, the company reported production of oil and a gas condensate amounted to 1,671 million tonnes, which is 11.5% less relative to 2014. Gas production amounted to 1,502 billion cubic metres, which is 13.5% less relative to 2014. The company reported oil production of 157,736,000 tonnes against 176,277,000 a year ago. Condensate production was 9,330,000 tonnes against 12,498,000 tonnes a year ago. The main reason for production volumes being lower is natural decline of field productivity coupled with a low level of investment in drilling new wells and capital workovers.
For the month, the company reported oil production of 12,330,000 tonnes against 12,065,000 a year ago. Condensate production was 645,000 tonnes against 566,000 tonnes a year ago. Oil and condensate production was 12,975,000 tonnes against 12,631,000 tonnes a year ago. Gas production was 449.48 million m³ against 453.24 million m³ a year ago.