Exploration of Gas Wells in Ukraine

by Meifan Honcharuk
Tuesday, September 5, 2023
Exploration of Gas Wells in Ukraine

The gas and oil operator of Ukraine "Ukrnafta" began work on 30 new wells in the Sumy region

Director of Ukrnafta Serhii Koretsky said that the company has launched a significant project in the Sumy region. According to it, between 2023 and the end of 2024, Ukraine will create 30 wells for mining. In 2023, the company will start working on 9 wells in the Velikybnovske oil field. The depth of one well is more than 2700 meters. The inventory project is about $1.5 billion this year. 

In addition, to implement the project Ukrnafta, for the first time, will hold a 3D seismic research in the country. There will be a study of mountain areas in which Ukrainian oil sources may also be discovered. Studies with the help of wireless technologies will allow to thoroughly study the territory of Ukraine and find mineral deposits.

This year, Ukrnafta made a net profit of $113 million in the first quarter. By the end of the year, the Ukrainian company plans to earn $315 million. 

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