DTEK Oil&Gas will increase gas production up to 5 bln cubic metres
DTEK, Kyiv, Ukraine,
Mar 02, Mon, 2020
DTEK Oil&Gas is set to ramp up the gas production to 2 billion cubic metres in 2021 and reach 5 billion cubic metres over the next five years. This statement was made by the company's CEO Igor Shchurov at Ukrainian Energy Forum. He believes that the growth will be driven by systemic investments and innovations introduced now in the company. With the advance technologies, DTEK Oil&Gas is successfully developing tight reservoirs (tight gas deposits) and has shortened the deep well drilling time to a record 3.5 months.
“Investing billions of hryvnias in drilling, prospecting and innovations annually, DTEK Oil&Gas has more than tripled its output at two mature fields. Over the next five years, we plan to reach a new development pace and triple today's indicator,” Mr Shchurov emphasised.
According to experts at the forum, private gas companies have been showing a positive production trend for the second year running. “In 2019, the output of private companies rose by 5.05% to reach a record 4.6 billion cubic metres,” said in his speech Artem Petrenko, Executive Director of the Association of Gas Producers of Ukraine.
We remind that the private sector accounts for 22% of Ukraine's gas extraction market today.