Business news from Ukraine

“Ukrgasvydobuvannya” increased gas production by 12%

29 April , 2024  

In January-March 2024, Ukrgasvydobuvannya JSC increased gas production by 12% compared to the same period in 2023, Naftogaz reports on its website without specifying the final figure.

“This is the result of the launch of new productive wells, as well as effective work with the old stock. Our goal is to maintain this trend and reach production growth by the end of the year,” Naftogaz CEO Oleksiy Chernyshev said in a statement.

According to him, traditionally, the highest production rates are in the east of the country, but in the west and central regions, the plan was also exceeded.

“Every gas production department of Ukrgasvydobuvannya, despite the shelling and sometimes even the lack of electricity supply, is meeting the gas production targets for this year. At the same time, there are risks, we understand that there may be shelling. However, the company will do everything possible to continue to meet the country’s needs,” added the company’s CEO Oleh Tolmachov.

As reported, in 2022, UGV produced 12.5 bcm of natural gas (commercial), which is 3% less than in 2021. At the end of 2023, the company’s commercial gas production amounted to 13.224 billion cubic meters, which is 0.679 billion cubic meters more than in 2022.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

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