Ukraine to boost gas production to 20.3 bcm in 2017, to 22.5 bcm in 2018 – government concept

15:00, 24.02.2017 1 min read

The Ukrainian government has published a concept for development of Ukraine's gas production sector approved at the end of 2016. The document envisages the increase of gas production from 18.7 billion cubic meters (bcm) in 2016 to 20.3 bcm in 2017 and 27.6 bcm in 2020.

According to government resolution No. 1079 dated December 28 published in the government's newspaper Uriadovy Kurier on Friday, the document says that 22.5 bcm of gas will be made in 2018 and 25.2 bcm in 2019.

According to the concept, state-run enterprise Ukrgazvydobuvannia would increase production from 14.5 bcm last year to 15.2 bcm this year and 16 bcm next year. Then the company will increase it to 18.2 bcm in 2019 and eventually to 20.1 bcm in 2020.

The companies could significantly improve the proved reserves figure, bringing it from 7.5 bcm in 2016 (including 7 bcm for Ukrgazvydobuvannia) to 13.5 bcm (12 bcm for Ukrgazvydobuvannia) in 2017 and 33.8 (25) bcm in 2020.