Ukraine’s largest natural gas producer increased its extraction by 4.8% in 2017, to 15.3 billion cubic meters, which is the highest it managed to extract in 25 years, Naftogaz-Ukraine’s press service announced, reported by UNIAN.
The company carried out 120 fracking operations, which helped to extract an additional 875 million cubic meters of natural gas.
In 2016, Ukrgazvydobuvannya increased its production by 0.5% in year-on-year terms, to 14.6 billion cubic meters. In 2015, however, the company saw a drop to its production levels – 14.528 billion cubic meters of gas was extracted, which meant a 3.8% contraction compared to the 2014 figures. Daily levels of production remain stable since July 2017 – at 42.5 million cubic meters.
Today, the enterprise is fulfilling the “20/20” Strategy, a national program aiming to increase natural gas production to 20 billion cubic meters every year until 2020.
Ukrgazvydobuvannya is the largest gas-producing firm in Ukraine, responsible for 70% of the country’s hydrocarbon market. The company is fully owned by the Naftogaz-Ukraine state holding.