Ukrgazvydobuvannya ups gas output 12% in Q1

MOSCOW. May 2 (Interfax) - Ukrgazvydobuvannya JSC (UGV) increased gas production 12% year-on-year in Q1 2024, Ukrainian media reported, quoting the company's sole shareholder Naftogaz of Ukraine.

"This is the highest first quarter output in two years", Naftogaz said without specifying how much was produced.

"This is the result of the launch of new productive wells, as well as efficient work with the old well stock. Our goal is to sustain this trend and achieve production growth based on the results of the year," Naftogaz CEO Alexei Chernyshov was quoted as saying.

UGV produced 12.5 bcm of gas in 2022 and 13.224 bcm in 2023.