Business news from Ukraine

“Ukrgasvydobuvannya” has commissioned new well with daily production rate of 250 thousand cubic meters

26 January , 2024  

In the first days of 2024, Ukrgasvydobuvannya JSC commissioned a new exploration well with a daily flow rate of 250 thousand cubic meters, the press service of Naftogaz of Ukraine reported on Friday.

The well has a design depth of 3950 meters and was drilled by Ukrburgaz (a branch of UGV).

According to the press service, this is the 10th well in this field, which shows a high result. The company’s specialists continue to explore its potential: using new technologies and engineering solutions, the company is increasing production.

“In some parts of this field, we have good 3D seismic data, which allows us to determine the optimal points for drilling new wells. Ten exploration wells have completed the geological information picture, and we plan to start production drilling this year,” said UGV CEO Oleg Tolmachev.

As reported, in 2022, UGV produced 12.5 bcm of natural gas (commercial), which is 3% less than in 2021. In 2023, the company was set a target to increase natural gas production by 1 bcm to 13.5 bcm.

According to operational data, the company increased production by more than 0.7 bcm in 2023. At the end of 2023, UGV reached an average daily production of 37.5 million cubic meters.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.