Ukrgazvydobuvannia discovers fields with gas reserves of 700 m cubic meters in Poltava region

Pubic joint-stock company Ukrgazvydobuvannia, the largest Ukrainian gas extracting company, has discovered the Pasichne gas condensate field (Reshetylivka district, Poltava region), which has total reserves assessed at 700 million cubic meters of gas, the company's press service reported on Tuesday.

The press service said that seismic exploration works were conducted there in 2000-2005. In 2012, the Otradnenska-28 wildcat well of 4,000 meters deep was drilled. A gas flow of 130,000 cubic meters a day was achieved.

The results of the well test show that there are prospects for wildcat well drilling on the Pasichne gas condensate field. In 2013-2014, it is planned to continue exploring the field.

The Pasichne field is located near the Horobtsivske and Otradnenske fields, where gas is being extracted.

As reported, in autumn 2012, Ukrgazvydobuvannia discovered the Zakhidno-Borysivske gas condensate field (in the Chuhuyiv district of Kharkiv region) with the total reserves of 1.7 billion cubic meters.

Ukrgazvydobuvannia in 2012 increased gas extraction by 0.7% compared to 2011, to 15.022 billion cubic meters, including a rise of 0.2% in extraction of natural gas, to 14.762 billion cubic meters.

Last year the company cut crude oil extraction by 1.8%, to 160,300 tonnes, while gas condensate output grew by 0.82%, to 531,500 tonnes.

Ukrgazvydobuvannia, a subsidiary of Ukraine's national oil and gas company Naftogaz Ukrainy, is Ukraine's largest gas producer, accounting for over 70% of the country's gas production. The company also owns 15 filling stations in Kharkiv region.