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Ukrgazvydobuvannya sets 25-year record in gas production

Source : 112 Ukraine

The enterprise is fulfilling the “20/20” strategy
15:35, 3 January 2018

Ukrgazvydobuvannya Company
112 Agency

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.

Related: Natural gas production may increase up to 500 mln cubic meters in Ukraine in 2017 – Ukrainian PM

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.

Related: Parliament votes to deregulate natural gas production

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.

Related: Cabinet approves new composition of Naftogaz Supervisory Board

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.

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