Ukrburgaz hits 15-year high of 157,000 meters drilled in H1

MOSCOW. July 11 (Interfax) - Ukrburgaz, a division of JSC Ukrgazvydobuvannya (UGV), drilled 157,000 meters of wells in H1 2023, the most in a half-year for 15 years, Ukrainian media reported, quoting the Naftogaz of Ukraine press office.

"Despite the crisis, we not only continue to drill new wells, extract natural gas and fill underground gas storage facilities, but we are also working on improving our operating results," said Alexei Chernyshov, head of the Naftogaz group.

The press office said a monthly record of 32,400 meters had been set for meters drilled in April.

UGV chief Oleg Tolmachev said in February that the company aimed to boost meters drilled 50% this year compared with last to 300,000 meters.

UGV drilled 47 new wells in in 2022, down from 50 in 2021.

Naftogaz aims to boost its own natural gas production 1 billion cubic meters to 13.5 bcm in 2023. UGV reduced saleable gas production 3% to 12.5 bcm in 2022.

Naftogaz owns 100% of UGV.