In 2020, DTEK Oil&Gas produced 1.84 billion CBM of natural gas which is 11% higher than in the previous year and became a new record for the company and private gas production in Ukraine.
2020 was a difficult year for the world oil and gas industry. Apart from low gas prices, it was greatly affected by the economic crisis caused by the pandemic. The situation on domestic gas production market was equally difficult. Nevertheless, due to systemic work and innovational leadership, DTEK Oil&Gas showed sufficient growth in gas production in 2020.
The company managed to increase production by finishing drilling of four high-rate wells at the Machukhske field, intensification of the currently operated wells and implementation of innovational technologies within the whole process train. In addition, DTEK Oil&Gas finished the implementation of the large infrastructure project and put into operation booster pump stations that will enable to increase the performance of the Semyrenkivske field development.
The company provides measures for improving the resource base and a further increase in hydrocarbons production in accordance with its growth strategy. DTEK Oil&Gas won the open auction and purchased a special permit for subsurface use at Budyshchansko-Chutivska area. Production Sharing Agreement (PSA) at Zinkivska area was also signed within the largest in Ukraine PSA competition.
Igor Shchurov, CEO of DTEK Oil&Gas, noted, “DTEK Oil&Gas continuously demonstrates high performance. In 2020, despite complicated conditions for the world gas production industry caused by the low gas prices and the pandemic, we continued our systematic investments in the Ukrainian gas production development: for the last year, the investments made up UAH 3 bln which enabled to maintain dynamic growth in compliance with the long-term development strategy. In 2021, we set even more ambitious goals, and we will continue improving our contribution to the achievement of energy independence by Ukraine.”