Naftogazvydobuvannya reached its annual gas production targets ahead of schedules

Gas production has grown by 26% YOY. By the end of the year, the gas output will exceed 1.6 bcm.

Such performance was achieved thanks to the commissioning of 13 new wells over 2014-2016 period, overhaul of the majority of active well stock, and application of new technologies for improving a gas recovery factor.

“In the past three years we have been demonstrating performance unprecedented for both our company and private gas extraction in general. We were able to achieve such results thanks to the best professional team, wide-scale investments, and the best-in-class technologies and equipment. Our example proves that the national oil and gas industry has a huge potential for reducing Ukraine’s dependence on imported gas. The state and business have to combine their efforts to realise this potential to the maximum. To achieve this objective, favourable regulatory environment, which includes stimulating fiscal treatment, full-scale introduction of a natural gas market, and maximum deregulation, has to be created,” commented DTEK Oil&Gas CEO Igor Shchurov.