Ukrgasvydobuvannya's daily gas production hits record high

MOSCOW. Feb 12 (Interfax) - Ukrainian natural gas producer Ukrgasvydobuvannya (UGV) has recorded its highest daily production since December 2018 after receiving 38.54 million cubic meters of the commodity on February 8, 2024.

"This is an overall result achieved thanks to the launch of a record number of new wells, a considerable number of which are high-performance, i.e. yielding over 100,000 cubic meters of gas per day. We aim not to only to maintain this result, but to also build on it in 2024," the group's chief Alexei Chernyshov was quoted by the Ukrainian media as saying in a company statement.

UGV continues with systemic efforts to develop its production by implementing modern drilling technologies and other advanced engineering solutions, the group said.

"At the beginning of 2024 alone, we already launched three high-performance wells which between them yield 800,000 cubic meters of gas per day," Chernyshov said.

It was reported that in January-February 2024 UGV launched three new wells with a combined daily yield of 800,000 cubic meters; in 2023, it launched 86 new wells, 24 of them with a starting yield of over 100,000 cubic meters.

In 2022 the company extracted 12.5 billion cubic meters of natural gas (commodity), down 3% on 2021. According to the latest data, over the course of 2023 the company increased production by more than 0.7 billion cubic meters. By the end of last year, average daily production reached 37.5 million cubic meters.

UGV is 100% owned by Naftogaz.