Ukrgasvydobuvannya increased its net profit by 1.2%

For the first 9 months of 2019, Ukrgasvydobuvannya increased its net financial income by 1.2% (UAH 258 million) compared to the same period last year, receiving UAH 21.412 billion in net profit.

According to the company's press service, over the period, UGV delivered to the house holds 10.183 billion m 3 gas.

According to the press service, in 9 months the company put in service 49 gas and 6 oil wells, performed 100 operations with hydraulic fracturing treatment (additional production of which - 345 million m 3).

 509 operations by coiled tubing workover unit (additional production - 179 million m 3of gas). UGV also reported the results of interpretation of the Svyatogryska Area data after 3D seismic.

“On the one hand, we are working to raise funds to finance investment projects that will retain basic production. On the other hand, we are working to improve production processes and have already reduced production and technological costs. We continue to actively work on partner projects to increase production. Together with the Canadian company Vermilion, submitted to the Cabinet of Ministers an inter-departmental commission a draft of agreement on the distribution of products by the area received. There are visits of companies that have qualified under the PEC (Production Increase Contract) project at Ukrgas Production in Western Ukraine, ”said Andriy Favorov, Director of Integrated Gas Business of Naftogaz of Ukraine, quoted by the press service.

16:09 / 1 November, 2019

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