10:42 26.05.2014

Karpatygaz LLC has launched a booster compressor station at Rozpashnivske field

3 min read
23 May 2014 Karpatygaz LLC has commissioned the booster compressor station with Ariel turbo-compressor units driven by Caterpillar gas turbine at Rozpashnivske gas соndensate field (GCF) in Poltava Region. The compressor station package was supplied by the Canadian company Propak Systems Ltd. Design, construction and installation works as well as the delivery of additional equipment was performed by the national companies. Borys Syniuk, director of Karpatygaz LLC, stated that it ‘would allow stabilizing and maintaining all necessary operating pressures within the gas field and would ensure additional gas production in the amount of 30 MCM per year as well as additional extraction of gas condensate and thereby during the validity term of the agreement until 2030 1 BCM of natural gas would additionally be produced. For the last year and a half this is the next booster compressor station launched that will give a new lease of life for Rozpashnivske gas field in Poltava Region, which is at the final stage of its development. Unfortunately, the construction was not in line with the schedule and the works were temporary suspended. Karpatygaz didn’t have the possibility to complete the site in due time as the Company had been excluded from the gas balance since last year resulting in the lack of the free cash flow. Currently there are 9 booster compressor stations under construction works conducted by Karpatygaz LLC with the overall capacity of 102,7 MW to be put into operation in 2014. Accumulatively as the result of its activity from March 2011 till present time the Company has surpassed the production level of 1.5 BCM of gas. Keen perception of the Government in respect of the necessity to adopt prompt and high priority decisions to increase national production, attract investments, ensure not discriminatory but transparent and free access for investors to the gas transportation system via the Balance of Natural Gas Supply and Distribution in Ukraine is the formula for success and stability at the energy market especially during such extremely turbulent times for the state economy. Background Rozpashnivske gas соndensate field is located in Karliv district, Poltava Region. The gas field has already been producing for 38 years since 1976, with the remaining reserves in place of 15,1 BCM of natural gas and 1,03 million tons of condensate. Karpatygaz LLC operates in the sector of hydrocarbons production and processing at the licensed blocks of PJCS Ukrgasvydobuvannya. Karpatygaz LLC is an operator of Joint Investment Activity between PJCS Ukrgasvydobuvannya and Misen Enterprises АВ, Sweden operating in the area of hydrocarbons production and processing. Misen Enterprises АВ as one of the Participant of Joint Activity Agreement (JAA) is registered in Stockholm, Sweden. The strategic idea of Misen Enterprises АВ is development of oil and gas fields and significant increase in hydrocarbons production through implementation of the large-scale investment programs. 100% owned subsidiary of Misen Enterprises АВ is Karpatygaz LLC which are PJCS Ukrgasvydobuvannya partners within the frame of JAA. The parent company of Misen Enterprises AB is public company Misen ENERGY AB, which was founded in 2004. The company’s shares have been traded on Stockholm Stock Exchange NASDAQ OMX since 12 June 2007.
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