UGV launches 36 new gas wells in Ukraine in Jan-May 2024

MOSCOW. June 5 (Interfax) - Ukrgasvydobuvannya (UGV), Ukraine's leading gas producer, launched 36 new gas wells in January-May 2024, Ukrainian media reported citing the Naftogaz press service.

Eleven of these wells are highly productive ones, whose output exceeds 100,000 cubic meters of gas a day.

"Our output in the first five months of 2024 grew 10% compared to the same period last year. This is a result of painstaking work of our specialists. They also showed the best drilling results at the very start of the year, and now we have another 11 high-rate wells. This is an important result, and we're seeking to keep momentum and see growth in our output by the end of the year," UGV CEO Alexei Chernyshev said.

As reported, UGV produced 12.5 billion cubic meters of commercial natural gas in 2022, down 3% from 2021, and 13.224 billion cubic meters of commercial gas in 2023, which was 0.679 billion cubic meters more than in 2022.

UGV launched 86 new wells in 2023, including 24 ones whose initial daily rate was over 100,000 cubic meters.

Naftogaz of Ukraine owns 100% in UGV.