Ukraine's Naftogaz presents strategy to boost gas production.

The company plans to increase production through ultra-deep drilling at the Shebelynka gas field.

REUTERS

REUTERS

Director of Integrated Gas Division at NJSC Naftogaz of Ukraine Andriy Favorov says the company has presented the Tryzub ("Trident"/Ukraine's national coat of arms) strategy to boost the country's gas production within the next decade years.

The strategy is based on three focus areas, he told a press conference on February 17.

In particular, the company plans to increase production through ultra-deep drilling at the Shebelynka gas field, extracting gas from dense rock areas, and on the Black Sea shelf.

Naftogaz also plans to intensify production at both existing wells and traditional fields.

Read alsoNaftogaz group seeks nearly US$8 bln over assets Russia seized in Crimea

Favorov says the annual natural decline in gas production in existing fields is about 1.5 billion cubic meters of gas. Moreover, the company's largest fields, which were discovered in 1960-1980, are almost exhausted, so the country needs the new development strategy.

However, he did not voice specific figures, noting that it would be possible to more accurately predict the results of the program before its final stage.

"I will not deceive you, giving you any figures," he said.

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