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Ukrainian oil and gas producers to expand gas extraction

The companies work on getting permissions for gas extraction
20:21, 5 July 2018

Rianovosti

The State Service for Geology and Mineral Resources of Ukraine released the data, which confirms that Ukraine's oil and gas producers have been especially active lately in terms of getting permissions for gas extraction. The State Service reported this as quoted by LB.ua news agency.

Judging by the released information, the companies expand their old licenses and get the new ones in order to develop hydrocarbon deposits. 

East Europe Petroleum enterprise expanded five areas, which belong to it, refusing from shale gas production in favor of the natural gas. About one-third of the company belongs to the state, namely the NJSC 'Mineral Resources of Ukraine'; the rest belongs to Hartlog Limited, the Cypriot company, which is linked to Pavlo Fuks, the Ukrainian businessman. 

Related: Ukraine gas production rose by 4% in 2017

Tweens Group, Elion Invest and Price Company also filed applications for developments of their gas deposits. Golden Derrick, which is a part of East Europe Petroleum, still hasn't got its license, but there's a chance that the respective areas already are of special interest to Pavlo Fuks.

Sens-D and Vest-gaz-plus filed applications, too.

In 2017, the rate of the gas extraction in Ukraine grew up by 4.2 percent, compared with that of 2016 - up to 20.8 billion cubic meters of gas.

Related: Gas production to be renewed on abandoned gas fields in Western Ukraine

Related: Siemens gas turbine is tested in Crimea

Related: Nord Stream 2 will destroy competition on European gas market, - Naftogaz

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