The payback period for hydraulic fracturing at Ukrgazvydobuvannia's wells is two or three weeks, Ukrgazvydobuvannia Head Oleh Prokhorenko said at a government meeting on Wednesday.

"We get a fantastic return on the investments we are currently making. For example, the payback period for hydraulic fracturing operations is from two to three weeks. It's fantastic, but it's real! We take wells that give 20,000-30,000 cubic meters of gas per day, and we get 200,000-300,000 cubic meters of output after these operations... Ukraine could have done this 10 and 20 years ago, but this was not done consciously," he said.

Ukrgazvydobuvannia, fully owned by Naftogaz Ukrainy, is the country's largest gas producer, providing about 75% of the country's total gas production.