Business news from Ukraine

Business news from Ukraine

Ukrgasvydobuvannya drilled two high-yield wells

6 November , 2023  

PJSC UkrGasVydobuvannya (UGV) has drilled two high-yield wells, exploration and production wells, with a total daily production capacity of 0.5 million cubic meters.

“One of them is an exploration well at a recently discovered field, the other is a production well at a field that is more than 50 years old,” the company said on its website on Monday.

According to UGV, the drilling location of the exploration well was determined thanks to earlier 3D seismic surveys. The second well is a production well drilled at the “old” field, which has deposits with high residual potential but is characterized by a complicated geological structure.

“The results of drilling this well made it possible to increase gas production relative to the field by 156 thousand cubic meters, as well as to clarify the geological structure of the field and outline further plans for drilling the following wells,” UGV said.

Both wells were drilled by specialists of Ukrburgaz, a branch of Ukrgasvydobuvannya.

“We continue to work with both new and old fields and see that our approaches are effective: these are not the first successful high-rate wells in these fields that add a significant plus to the company’s overall production,” the website quotes Oleh Tolmachov, Acting CEO of Ukrgasvydobuvannya, as saying.

The company aims to increase natural gas production by 1 billion cubic meters in 2023, up to 13.5 billion cubic meters. In 2022, UGV produced 12.5 billion cubic meters of natural gas (commercial), which is 3% less than in 2021.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.