JSC UkrGasVydobuvannya continues active exploration work on existing licenses and discovered one more new deposit in Kharkiv region in record time in conditions of artificial restraint of the development of a new resource base.

At the exploration stage, the gas reserves of the discovered deposit are at least 200 million cubic meters, and prospective resources estimated by UkrNDIGas amount to more than 2.000 million cubic meters.

After the UGV received a special permit in December 2016, a new deposit was discovered in record time - less than 1.5 years, despite the fact that this one special permit allows conducting geological studies up to 5 years with the possibility of extension for another 5 years, that is within 10 years.

For reference

For JSC UkrGasVydobuvannya the issue of new resource base creation is critical, and its solution must come from the implementation of the 20/20 Strategy objectives. Thus, due to more than 60 refusals to approve special permits only by Poltava regional council for two years, Ukraine will lose 1 billion cubic meter of gas in 2018.

We recall that the period from the license issuance to the commercial development of deposits is usually 2-4 years. It consists of stages such as seismic exploration, exploration drilling, appraisal drilling, and development drilling. Therefore, in case of obtaining new special permits the next gas inflow can be expected not earlier than in 2 years.