Ukraine’s Ukrnafta sees higher oil output in 2023 after fall in 2022

KYIV, March 29 (Reuters) – Ukraine’s biggest oil company Ukrnafta plans to produce 1.45 million tonnes of crude oil in 2023 after an 8.6% fall in production in 2022, and will seek partners to help develop existing fields, the company said on Wednesday.

Almost all Ukrainian industries have suffered from Russia’s invasion as swathes of territory have been occupied by Russian forces and facilities have been damaged in Russian attacks.

Ukrnafta, whose main oil deposits are in western Ukraine, said it had “great potential” to increase oil and gas production in the near future.

“The company can provide 80% of this growth from its existing fields, for which purpose the specialists are preparing a procedure for attracting partners by 1 May,” it said in a statement.

Ukrnafta produced about 1.4 million tonnes of oil in 2022, and around 1.5 million tonnes in 2021 and in 2020. A record high output was achieved in 2006 when the company produced about 3.9 million tonnes of oil.

(Reporting by Pavel Polityuk; Editing by Timothy Heritage and Jan Harvey)

((pavel.polityuk@tr.com; +380 44 2449150; Reuters Messaging: pavel.polityuk.thomsonreuters.com@reuters.net))

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