Ukraine continues to expand oil production, despite military operations on its territory. In August of this year, it is planned to drill two new wells with an expected production volume of more than 100 tons per day. By 2028, the Ukrnafta state company plans to increase oil production by one and a half times.
The history of oil production on the territory of Ukraine dates back to ancient times. Already in the 3rd century BC, oil waters were known on the Kerch Peninsula, and in the 13th century in Galicia, "rock oil" was used in medicine and for lubricating wheels.
The beginning of industrial exploitation was noted in 1771 in the Sloboda-Rungursk fishery, Ivano-Frankivsk region. During the following centuries, oil production actively developed, in particular in the Boryslav region, which became the largest oil industry in Europe at the turn of the XIX-XX centuries. The first patent in the world for the production of kerosene from oil was obtained in Lviv in 1853.
The largest volume of oil production in Ukraine reached its peak in 1972, when 14.5 million tons were produced. However, later volumes decreased due to the depletion of reserves and the lack of discovery of new large deposits.
Today, four oil and gas-bearing provinces are distinguished in Ukraine, uniting nine oil-, gas- and oil-and-gas-bearing regions. The eastern region, which includes the Dnipro-Donetsk region, has the largest volumes of explored oil and gas deposits. The western region covers the Precarpathian, Folded Carpathians, Transcarpathian and Volyn-Podilsky regions with significant deposits.
According to the Data Portal of the Extractive Industry of Ukraine, at the end of 2020, total oil reserves amounted to more than 85 million tons, most of which are in the Eastern region. By 2023, oil production has increased by 2.1 million tons, Ukrnafta accounts for 67% of this volume.
Ukrnafta's plans for the coming years include increased investment in the restoration and modernization of mining equipment aimed at increasing productivity and increasing production.
