Ukraine is Planning to Triple Gas Production on its Black Sea and Azov Sea Shelves by 2015

Chernomorneftegaz SJSC is planning to triple its gas production on the Black Sea and Azov Sea shelves from 1.056bln c m in 2011 to 3bln c m in 2015.

The press service of Naftogaz of Ukraine reports that in the next four years Chernomorneftegaz is also planning to develop seven new and to improve two operating gas fields. By 2014 own production will cover the annual demand of the Crimea, which makes up almost 2 bln c m.

There are several reasons why Chernomorneftegaz is confident of its ability to fulfill the plan: though having developed just 4% of the Black Sea and Azov Sea shelves yet, Ukraine already has sufficient shallow-water fields for increasing its gas output; Chernomorneftegaz can handle them both financially and technologically; the fields are located close to underwater gas pipelines and technological platforms; the program enjoys full state support.

This year the company recorded all-time high daily gas output in the Black Sea – over 3 mln c m. “This is more than ever produced there,” the source says.

Source: Energy Expert Centre