Oil & Gas

20 May 2024

State Companies Plan to Extract 15 Cubic Meters of Gas and Two Million Tons of Oil This Year and Have Launched Seven New Gas Wells.

20 May 2024  by   

The Naftogaz group expects that state gas production companies will produce about 15 billion cubic meters of gas in 2024, said the state company’s CEO, Oleksiy Chernyshov. He added that in addition to gas production, oil production is also increasing, which should amount to two million tons by the end of the year. Chernyshov noted that the company has already begun preparing for the new heating season and has stored more than eight billion cubic meters of gas in underground storage. By the beginning of winter, Naftogaz should increase this volume to 13 billion cubic meters. Also, Prime Minister of Ukraine Denys Shmyhal confirmed that last year Naftogaz launched 86 new wells, and seven more gas wells were launched this year. He added that Naftogaz’s goal for 2024 is to produce about 15 billion cubic meters of gas, which should be nearly enough to supply Ukraine’s internal needs.


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