UkrGasVydobuvannya Cuts Natural Gas Production By 4.3% To 12.5 Billion Cubic Meters For 11M

In January-November 2021, the UkrGasVydobuvannya state gas production company reduced natural gas production by 4.3% or 560 million cubic meters to 12.49 billion cubic meters compared to the same period in 2020.

The company has said this in a statement, Ukrainian News Agency reports.

According to it, natural gas supply for 11 months of 2021 decreased by 4.2% or 500 million cubic meters to 11.8 billion cubic meters of natural gas.

In November, UkrGasVydobuvannya cut natural gas production by 2% to 1.126 billion cubic meters compared to November last year.

Also in November, UkrGasVydobuvannya cut natural gas supply by 1.5% to 1.067 billion cubic meters compared to November last year.

It is also indicated that for 11 months of 2021, UkrGasVydobuvannya drilled and connected to ground infrastructure 48 new wells, carried out 222 well workovers, 575 coiled tubing operations, 97 hydraulic fracturing operations and 11 sidetracking operations.

Also, as of the end of November 2021, 386 high-flow wells were equipped with a remote monitoring system, 2,703 geophysical surveys and other works in wells were carried out by internal and external contractors, which is 22% more over the planned volume.

As Ukrainian News Agency earlier reported, in January-October 2021, the UkrGasVydobuvannya state gas production company reduced natural gas production by 4.5% or 541 million cubic meters to 11.366 billion cubic meters compared to the same period in 2020.

In 2020, UkrGasVydobuvannya reduced net profit 3.8 times or by UAH 14.1 billion to UAH 4.95 billion compared to 2019.

UkrGasVydobuvannya is the largest gas producer in Ukraine and, according to the Cabinet of Ministers decree, is obliged to sell all volumes of produced natural gas to the Naftogaz of Ukraine national joint-stock company for the needs of the population.

100% of the company's shares are owned by Naftogaz.