Naftogaz increased gas production from overhauled wells in 2023

MOSCOW. Feb 16 (Interfax) - The Naftogaz Group increased production from overhauled wells 20% in 2023 compared to the pre-crisis year of 2021, achieving a four-year high.

"This figure is 20% higher than production in 2021," Ukrainian media quoted statement on the group's website as saying.

The Naftogaz Group's Ukrgazvydobuvannya (UGV) recently overhauled and restored an old well which is currently yielding more than 340,000 additional cubic meters of gas per day.

This well had long been expected to be abandoned, but specialists conducted a detailed analysis and reviewed the technical and geological risks in 2023 and decided to restore the well through an overhaul.

"Our specialists are constantly reviewing and analyzing old wells which can be put back into operation thanks to better technical opportunities than we had decades ago," UGV's acting general director Oleg Tolmachev was quoted as saying.

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.