Business news from Ukraine


8 September , 2018  

JSC Ukrgazvydobuvannia has discovered the third new field in Kharkiv region this year. The press service of the company reported that at the exploration stage the reserves total at least 0.375 billion cubic meters and the prospective resources are estimated at around 1 billion cubic meters. The field was discovered in August 2018 after the completion of drilling a wildcat well started after a seismic survey under a deposit use license issued in 2014.
Today the well is being developed and test production is started. The company continues exploration work at the new field.
Ukrgazvydobuvannia recalled that in May and June 2018 the company discovered two new fields in Kharkiv region on land parcels with mineral resources the licenses for which were received before 2017. Some issues regarding the issue of licenses for new land parcels are still unsettled. According to the government gas production boosting program, the company will receive 15-20 licenses for new land parcels every year to explore and discover new fields.
As reported, the strategy of the company until 2020 envisaged the increase in gas production from 14.5 billion cubic meters in 2015 and 2016 to 15.2 billion cubic meters in 2017, 16.5 billion cubic meters in 2018, 18.3 billion cubic meters in 2019, and 20.1 billion cubic meters in 2020. Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is the country’s largest gas producer, which provides about 75% of the total gas production in the country.

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