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Finance

Ukraine’s Naftogaz begins operations at natural gas well with 340 tcm daily production rate

JSC Ukrgasvydobuvannya, part of the Ukrainian state-owned Naftogaz Group, has drilled a new appraisal and development well with a depth of 5,950 metres which produces 340tcm of natural gas per day, the Group announced on Tuesday (15 March).

“This is a very positive result, especially considering that the field where the well was drilled has been in operation for 45 years and is 85 per cent depleted. This was possible thanks to the implementation of modern field development approaches,” said Oleksiy Chernyshov, CEO of Naftogaz.

Earlier this month, Mr Chernyshov encouraged German companies to consider participating in gas production projects in Ukraine.

The well design team used a 3D model of the field, thanks to which, specialists were able to identify a promising area of the field that had not been developed thus far, the company said.

“Last year, we rearranged our geology and development team, revising the processes and strengthening it with powerful specialists with international experience. We can already see the impact. The results achieved in this field and a range of other recent geological discoveries will be important components increasing gas production this year,” said Oleh Tomachev, Interim Director General of JSC Ukrgasvydobuvannya.

The successful drilling of this new well now paves the way for plans to drill another well in the area, Naftogaz added.

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