Ukrgazvydobuvannya commissions two new wells producing 550,000 cubic meters of gas per day

MOSCOW. Feb 8 (Interfax) - JSC Ukrgazvydobuvannya (UGV) commissioned two new wells with a combined daily gas flow of 550,000 cubic meters per day in the first week of February, Ukrainian media reported, quoting the Naftogaz of Ukraine press service.

UGV's Ukrburgaz branch drilled the wells. The company will continue to look ramp up production, thanks primarily to the latest technologies that is implementing.

"We raised gas production in 2023. We will continue this trend in 2024, as increasing Ukrainian production is very important to strengthen the country's energy independence and sustainability," head of Naftogaz, Alexei Chernyshov, was quoted as saying.

UGV head Oleg Tolmachev said that apart from increasing production in 2024, "work is underway on medium- and long-term projects, the results of which we will be able to see in a few years."

UGV commissioned a new exploration well with daily gas flow of 250,000 cubic meters per day at the beginning of January. It launched 86 new wells, 24 of them with an initial daily flow rate of more than 100,000 cubic meters, in 2023.

UGV reduced saleable gas production 3% in 2022 to 12.5 bcm. According to preliminary data, gas production rose more than 700 million cubic meters in 2023. UGV was producing an average daily 37.5 mcm at the end of 2023.

Naftogaz owns 100% of UGV.