The company wants to produce gas on the shelf of the Black sea

Exploratory drilling is scheduled to begin in 2019-2020


The state gas company “Ukrgazvydobuvannya” plans to start to produce natural gas in licensed blocks located offshore the Black sea, and after 5-7 years to reach the target production of 5 billion cubic meters of gas per year.

This was stated by the head of the company Oleg Prokhorenko, reports UNIAN.

“We propose to develop 5 license areas on the shelf of the Black sea gas reserves which constitute from 80 to 300 billion cubic meters of gas. We estimate that in the next 5-7 years it is possible to reach the target production of 5 billion cubic meters per year, and using the experience of other countries, I believe that we will be able to shorten this period”, – he said.

Prokhorenko added that the company expects to start exploratory drilling in the 2019-2020 year and reach commercial production in early 2021.

According to Prokhorenko, the investment in this project could reach 5-6 billion UAH, since offshore drilling is very expensive.

“Ukrgasdobycha never worked offshore, so we look forward to future cooperation. This can be the agreement on production section may be a contract for the production, but the main thesis is the following: we are not going to do everything yourself, we want to obtain a license to attract to the project investors, to create conditions for the development of this segment, then other companies began to come to Ukraine”, – said the head of the company.

We will remind, Ukrgazvydobuvannya – the largest gas company of Ukraine, whose share in the total volume of hydrocarbon production in the country is 70%. 100% of the shares owned by Naftogaz Ukraine.