The Ukrainian government published a concept for development of Ukraine’s gas production sector approved at the end of 2016. The document envisages the increase of gas production from 18.7 billion cubic meters in 2016 to 20.3 billion cubic meters in 2017 and 27.6 billion cubic meters in 2020.
According to government resolution No. 1079 dated December 28, 2016, the document says that 22.5 billion cubic meters of gas will be made in 2018 and 25.2 billion cubic meters in 2019.
According to the concept, the state-run enterprise Ukrgazvydobuvannia would increase production from 14.5 billion cubic meters last year to 15.2 billion cubic meters this year and 16 billion cubic meters next year. Then the company will increase it to 18.2 billion cubic meters in 2019 and eventually to 20.1 billion cubic meters in 2020.
The companies could significantly improve the proved reserves figure, bringing it from 7.5 billion cubic meters in 2016 (including 7 billion cubic meters for Ukrgazvydobuvannia) to 13.5 billion cubic meters (12 billion cubic meters for Ukrgazvydobuvannia) in 2017 and 33.8 (25) billion cubic meters in 2020. (Interfax/Business World Magazine)