Business news from Ukraine


4 June , 2018  

JSC Ukrgazvydobuvannia in January-May 2018 increased gas production by 1% or 0.063 billion cubic meters (bcm) year-over-year, to 6.288 bcm, the company’s press service reported last week. The press service said that this production volume in the first five months of the year was reached for the first time since 2014. “For the fourth consecutive month, the company has been increasing daily gas production within the limits of 1 million cubic meters due to all types of operational activity, but since the existing resource base of the company is almost 70% depleted, the natural decline exceeds the growth. The non-issue of new licenses hinders the development of the new resource base of Ukrgazvydobuvannia,” the head of the company, Oleh Prokhorenko, said.
At the same time, he said that the company from the end of this month overcame the May negative factor and moved to the actual increase in daily production compared to last year.
The press service said that in the third and fourth quarters of 2018, Ukrgazvydobuvannia plans to launch new technological capacities: eight booster compressor stations, an increase of up to 50 tools for work-out of wells of external contractors, ten coiled tubing and nitrogen units, and the launch of new wells of external drilling contractors.
Ukrgazvydobuvannia, which is wholly owned by NSJC Naftogaz Ukrainy, is a large gas processing company, which accounts for about 75% of total gas output in the country.