Under the artificially stunted development of new resource base, in January-May 2018 JSC UkrGasVydobuvannya increased gas production compared with the same period last year, by 63 million cubic meters – to 6.288 billion cubic meters.

For the first time since 2014, production has reached 6.288 billion cubic meters for the first five months of the current year.

“For four consecutive month, thanks to all types of operational activities, the company increases daily gas production within 1 million cubic meters. But since the available resource base of the company is exhausted by almost 70%, the natural fall exceeds the growth. Failure to acquire new special permits hampers the development of new resource base of UGV,” said Oleh Prokhorenko, Chairman of the Board at JSC UkrGasVydobuvannya.

But, as the CEO of UGV stressed, the company has overcome the May negative factor since the end of this month and moved to the actual increase in daily production as compared with last year.

We recall that in the third and fourth quarters of 2018, JSC UkrGasVydobuvannya plans to launch new technological facilities: 8 booster compressor stations, increase of workover rigs of the external contractors up to 50 units, 10 complexes for coiling, nitrogen plants, and commissioning of new wells of the external drilling contractors.

In addition, in May 2018, UGV commissioned new deposit in Kharkiv region in a short time.

In 2016-2017, JSC UkrGasVydobuvannya more than 145 times submited documents for acquisition of new sites and expansion of the boundaries of available sites, but received 135 refusals.

The company has repeatedly stated that the production prospect of about 5.5 billion cubic meters of gas depends on new sites by the end of 2020.