In 2021, DTEK Oil&Gas invested over UAH 2 billion and increased gas production by 12%

In 2021, DTEK Oil&Gas invested over UAH 2 billion and increased gas production by 12%

01.02.2022

In 2021, the companies of DTEK Oil&Gas holding invested over UAH 2 billion in the development of their production capacities. As a result, by the end of the year, the companies had extracted 2.06 billion cubic metres of gas, an increase of 12% over the previous year. DTEK Oil&Gas was responsible for over 10% of Ukraine’s entire gas production.

The investment allowed DTEK Oil&Gas to complete the construction of four new wells, as well as perform well workover operations at seven existing wells. In addition, DTEK’s oil and gas business completed a chain of digitalisation and infrastructure development projects. In September, the company put into service a package refrigeration unit at the Machukhske field, ahead of schedule. One month later, Ukraine’s first integrated system of digital field twins was introduced by the company, digitalising the entire Semyrenkivske field in the Poltava Region. And in 2021, DTEK Oil&Gas was the first Ukrainian company to use downhole video cameras to inspect wellbores.

"Large-scale investments and the introduction to Ukraine of newest technologies allow us to step up gas production from year to year and continue to be an industry leader. By the end of 2021, we set a new record for gas production in the private sector. We expect to double our investment in 2022, which will allow the company to boost production further in the coming years. We anticipate that the Government’s fiscal incentives will remain in place and that constructive cooperation with the state will continue. This will mean we can continue to achieve our joint goal of strengthening of Ukraine’s energy security", commented Ihor Shchurov, CEO of DTEK Oil&Gas.

The introduction of cutting-edge technologies and successful completion of a drilling and major repairs programme afforded DTEK Oil&Gas an opportunity to produce the record 2.06 bcm of natural gas. The company secured over 10 % of the national gas production in Ukraine.

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