Ukraine's Naftogaz Group increased gas production by 12% in first quarter

The Naftogaz Group, the largest national oil and gas company in Ukraine, increased its gas output by 12% in the first quarter of 2024 compared with the same period of 2023.

Source: Naftogaz press service 

Details: According to Q1 data, UkrGazVydobuvannya JSC, a member of the Naftogaz Group and Ukraine's largest gas producer, exceeded its targets and achieved its highest quarterly production in the last two years.

"This year, in the first quarter, we were able to raise production by nearly 12% compared to the same period last year. This is as a result of launching productive new wells and working effectively with the existing stock," commented Naftogaz chairman Oleksii Chernyshov.

The production plan was exceeded in Ukraine's east, as well as in the central and western gas fields.

Background: 

The Kyiv District Administrative Court overturned a decision by the National Energy and Utilities Regulatory Commission to suspend the gas distribution licence for the private company Cherkasygaz and extend the licence held by Gas Distribution Networks of Ukraine LLC (the Gazmerezhi brand) in Cherkasy Oblast.

The Naftogaz Group is prepared to purchase the entire volume of gas that Ukrainian private extraction companies supply to the market in 2024.

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