Ukrnafta starts drilling new well in Lviv region

According to Ukrinform, this was reported by the company's press service.

"The work has started ahead of schedule and as of today, we have completed almost half of the way - out of the planned 2,213 meters, the well has already drilled 1,084 meters. The well is scheduled to be commissioned in August 2023. The expected initial oil flow rate is 24.3 tons per day," the statement said.

It is noted that the construction cost is UAH 105 million, and the payback period is 2 to 2.6 years. The well is expected to operate for at least 15 years.

In total, four new wells will be constructed at the Verkhne-Maslovetske field this year and five more next year, both directional and horizontal.

"Ukrnafta's goal is to achieve Ukraine's energy independence in hydrocarbons. We have to produce our own resources to ensure domestic consumption of critical industries," the company added.

As reported, Ukrnafta has selected 20 fields in eastern and western Ukraine to develop with investors.