Economy

Natural gas reserves available for production in Ukraine estimated at 452.8 bcm

Ukraine has 452.8 billion cubic meters (bcm) of natural gas available for production, Chairman of NAK Nadra Ukrainy's board Yaroslav Klymovych wrote in his article in the government's Uriadovy Kurier newspaper.

"In Ukraine, there are 402 hydrocarbon deposits, of which 269 are in industrial development. The state balance of Ukraine's mineral reserves in 402 deposits takes into account producing reserves of natural gas in the amount of 905.6 bcm (those produced account for 68.9% of all reserves) ... As is seen from experience of mining in Ukraine, only half of these reserves could be extracted (452.8 bcm of gas) ... and this is for 22 years of production [at the current rate]," he said.

Possible reserves (category C3) add another 256.6 bcm to the producing reserves, he said.

"The government's balance estimates take into account possible reserves (category C3) of natural gas in the amount of 802 bcm at 206 prospective areas prepared for drilling and 156 undrilled deposits. If the resources are recalculated as producing gas reserves, this may amount to 256.6 billion cubic meters," he wrote.

In his opinion, it is possible to improve the situation by conducting large-scale geological exploration in areas with probable 5.6 trillion cubic meters of natural gas, as well as explore unconventional gas deposits (whose resources are estimated by state enterprise Ukrnaukageocenter at up to 32 trillion cubic meters).

Nadra Ukrainy is wholly owned by the state. It was created in 2000 to improve the management of state-owned enterprises engaged in geological exploration.

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