Business news from Ukraine


7 July , 2019  

Regal Petroleum Plc with assets in Ukraine in the second quarter of 2019 increased its average daily production of hydrocarbons on the Mekhediviska-Golotvschinska (MEX-GOL), Svyrydivske (SV), and Vasyschevskoye (VAS) gas condensate fields by 44%, or 1,244 barrels of oil equivalent (boepd) compared to the second quarter of 2018, to 4,073 boepd. According to a report by Regal on the London Stock Exchange’s website, in particular, the average daily production of hydrocarbons in April-June of this year on MEX-GOL and SV deposits amounted to 3,113 boepd (up by 40.2% compared to Q2, 2018), on VAS some 960 boepd (57.6% more).
The total average daily production of natural gas on the three fields in April-June 2019 amounted to 521,023 cubic meters (41.5% more), condensate some 97.9 cubic meters (58.9% more), and liquefied natural gas (LPG) some 40.5 cubic meters (47.3% more).
“At the MEX-GOL field, the drilling of well No. 119 is continuing, having reached a depth of approximately 4,789 meters. The well has a target depth of 4,850 meters, with drilling, completion and testing operations planned to be completed by the end of September 2019 and, subject to successful testing, production hook-up during the fourth quarter of 2019,” the statement reads.
In 2018, Regal increased its average daily production 67% at the first two fields (to 2,717 boepd) and 11.2% at the third one (to 674 boepd).