Zhoda Investments to increase Ukrainian oil production

Zhoda Investments launched a workover program to increase production at Lelyaki oil field in Ukraine, with the goal to more than double production.

Due to low oil prices during the COVID-19 pandemic and the Russian invasion of Ukraine, investments in the field had not been sufficient to counteract natural production decline.  

However, if all wells in this first workover stage are successful, production is expected to increase to 7,500 bbl/month, bringing production back to levels last reached in October 2021, the company said.

The current workover program will put seven already drilled wells on stream. Two wells have been completed and are producing oil production after being idle for 2 years. 

Zhoda is operator of the field (45%), which produces from two geological ages, Permian and Carboniferous, through a joint venture with Ukrnafta, Ukraine's largest state-owned oil and gas company.