Business news from Ukraine

Business news from Ukraine

“Ukrgasvydobuvannya” increased gas production to 14 bcm in 2024

In 2024, Ukrgasvydobuvannya JSC increased commercial gas production by 5.3% (by 0.7 bcm) compared to 2023 – up to 13.9 bcm, the press service of Naftogaz Group reports.

According to it, last year the company commissioned 83 new wells, of which 60 were production wells and 23 were exploration wells.

“UGV also increased the number of directional wells drilled from 51 to 60 over the year, which allows for gas production in hard-to-reach areas. In addition, the company drilled 370 thousand meters over the year, which is 14% more than in 2023.

“Naftogaz Group not only maintains stability, but also demonstrates an increase in gas production. Every day our people demonstrate the ability to adapt to current challenges and ensure development even in the most difficult conditions. I am grateful to my colleagues for their teamwork and sincere dedication to the profession,” said Roman Chumak, Acting Chairman of Naftogaz of Ukraine. Roman Chumak.

As reported, Ukrgasvydobuvannya produced 13.224 billion cubic meters of commercial gas in 2023, which is 0.679 billion cubic meters more than in 2022.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

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“Ukrgasvydobuvannya” paid UAH 22.3 bln of rent to budget in 2024

According to the results of 2024, JSC Ukrgasvydobuvannya paid UAH 22.28 billion in rent payments to the consolidated budget of the country.

According to the company’s website, 5% of this amount, or UAH 1.114 billion, went to the local and regional budgets in the regions where the company produces hydrocarbons.

As for the distribution of funds, Kharkiv region received UAH 580 million, Poltava region – UAH 441.3 million, Lviv region – UAH 45 million, Dnipropetrovs’k region – UAH 22.5 million, and others – UAH 25.2 million.

As reported earlier, in January-September 2024, Ukrgasvydobuvannya increased commercial gas production by 6.5% compared to the same period in 2023, up to 10.4 bcm, and liquid hydrocarbons by 26%, up to 372 thousand tons.

In 2023, the company produced 13.224 bcm of commercial gas, which is 0.679 bcm more than in 2022.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

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“Ukrgasvydobuvannya” to put its 15th well into operation in 2024

JSC Ukrgasvydobuvannya (UGV) has launched a new well with a depth of 4202 m and a flow rate of 170 thousand cubic meters of gas per day, the press service of Naftogaz Group reports.

According to the press service, this is the 15th well at the field since the beginning of 2024. Another one is planned to be drilled by the end of the year.

“The new well was drilled in the central part of the field. We plan to drill another one by the end of the year and four more next year. Thanks to the professional and well-coordinated work of all UGV specialists, we have been able to increase production for the second year in a row,” said Naftogaz CEO Oleksiy Chernyshov, as quoted by the press service.

According to Serhiy Lagno, the head of Ukrgasvydobuvannya, this result was achieved due to the successful choice of the well site.

“This was preceded by earlier 3D seismic surveys and their qualitative analysis, preliminary identification of promising horizons, as well as clarification of their capacity,” he explained.

As reported, in January-October 2024, Ukrgasvydobuvannya increased commercial gas production by 6% compared to the same period in 2023 – up to 11.6 bcm. At the end of 2023, commercial gas production amounted to 13.224 bcm, which is 0.679 bcm more than in 2022.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

“Ukrgasvydobuvannya” plans to increase gas production through new wells

Ukrgasvydobuvannya JSC (UGV) has launched a new well with a depth of 4202 m and a flow rate of 170 thousand cubic meters of gas per day, the press service of Naftogaz Group reports.

According to the press service, this is the 15th well at the field since the beginning of 2024. Another one is planned to be drilled by the end of the year.

“The new well was drilled in the central part of the field. We plan to drill another one by the end of the year and four more next year. Thanks to the professional and well-coordinated work of all UGV specialists, we have been able to increase production for the second year in a row,” said Naftogaz CEO Oleksiy Chernyshov, as quoted by the press service.

According to Serhiy Lagno, the head of Ukrgasvydobuvannya, this result was achieved due to the successful choice of the well site.

“This was preceded by earlier 3D seismic surveys and their qualitative analysis, preliminary identification of promising horizons, as well as clarification of their capacity,” he explained.

As reported, in January-October 2024, Ukrgasvydobuvannya increased commercial gas production by 6% compared to the same period in 2023 – up to 11.6 bcm. At the end of 2023, commercial gas production amounted to 13.224 bcm, which is 0.679 bcm more than in 2022.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

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Ukrgasvydobuvannya and Ukrnafta increased gas production by 6%

In January-October 2024, Ukrgasvydobuvannya JSC and Ukrnafta PJSC increased commercial gas production by 6% compared to the same period last year, up to 12.3 bcm, according to the website of Naftogaz of Ukraine.
“Despite the hostilities, our specialists continue to drill new wells and steadily increase gas production. We are doing everything possible to ensure that Ukrainians can continue to use their own fuel during the heating season,” said Naftogaz CEO Oleksiy Chernyshov.
As reported, the consolidated quarterly report of Naftogaz forecasts that the group’s commercial gas production in 2024 will amount to 14.6 billion cubic meters. In February, Chernyshov noted that the group’s goal for this year is to get closer to 15 bcm of production.

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“Ukrgasvydobuvannya” has increased flow rate at one of wells fivefold

After hydraulic fracturing, Ukrgasvydobuvannya JSC (UGV) has increased the flow rate at one of its wells fivefold to more than 100 thousand cubic meters of gas per day, the company’s press service reports.
According to the company, from November 2023 to August 2024, the well operated with a gradual decrease in flow rate from 29 thousand cubic meters to 18 thousand cubic meters of gas per day.
The decision to workover the well was made after calculating the well’s potential and collecting geological and technical information. The well was fractured within 18 days.
As reported, in January-August 2024, UGV increased commercial gas production by 7.2% compared to the same period last year – up to 9.26 bcm. During this period, UGV completed drilling of 62 wells, of which 52 were put into production. Of these, 23 have an initial daily flow rate of more than 100 thousand cubic meters.
In 2023, the company produced 13.224 bcm of commercial gas, which is 0.679 bcm more than in 2022. “In 2023, Ukrgasvydobuvannya launched 86 new wells, 24 of which had an initial flow rate of more than 100 thousand cubic meters.
Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.