Business news from Ukraine

“Ukrgasvydobuvannya” launches fourth high-performance well

6 March , 2024  

Since the beginning of 2024, JSC Ukrgasvydobuvannya (UGV) has launched its fourth high-performance well, with a daily flow rate of about 400 thousand cubic meters, the press service of Naftogaz of Ukraine Group reported on Wednesday.

According to the press service, thanks to the efficient work of Ukrburgaz specialists, the well was completed in just 105 days, which is 30% faster than the project schedule. During the work, a daily record was set for one team to drill 905 meters in 24 hours.

Specialists of the Ukrainian Research Institute of Natural Gases (UkrNDIGas), a part of the Naftogaz Group, correctly assessed the residual potential of the old field, successfully identified the well site and proved the high prospects of drilling in this area.

As reported, in 2023, UGV launched 86 new wells, including 24 with an initial flow rate of more than 100 thousand cubic meters. In January 2024, the company put into operation a well with a daily flow rate of 250 thousand cubic meters, and in February – two more new wells with a total daily flow rate of 550 thousand cubic meters.

In 2022, UGV produced 12.5 bcm of natural gas (commercial), which is 3% less than in 2021. 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.