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OVERVIEW OIL AND GAS: January 2019

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According to the updated information by the Ministry of Energy and Coal Industry, natural gas production in Ukraine in 2018 grew by 2.4% compared to 2017.

According to the Directorate of Fossil Fuels, the total gas production in 2015 amounted to 19.9 BCM, in 2016-20 BCM, in 2017-20.5 BCM. In 2018, production amounted to 21 BCM of natural gas.

For the period, private companies increased production - from 3.9 BCM in 2015 up to 4.4 BCM in 2018.

State production amid a backdrop of private production growth also decreased to 79%.

Ukrgazvydobuvannya reduced production of commercial gas in 2018 by 100 MMCM compared to 2017. In 2015-2018, technological costs grew along with total production volumes and the number of improved recovery operations. This indicator varied accordingly - in 2015, technological costs amounted to 4.1% of the total, in 2016 - 4.8%, in 2017 - 5.9%, in 2018 -9.7%.

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