Naftogaz ups natural gas production by 12% to 3.5 billion cubic meters in Q1

In January-March 2024, compared to the same period last year, Naftogaz Group increased natural gas production by 12% to almost 3.5 billion cubic meters.

This is stated in the message of the company, Ukrainian News Agency reports.

At the same time, it is noted that UkrGasVydobuvannya, which is part of the Naftogaz group, in the 1st quarter exceeded the existing plan and reached the highest production for the corresponding period over the past two years.

According to the report, traditionally the highest production rates are in the east of the country, but in the west and central regions also exceeded the existing plan.

"This year our team managed to increase production by almost 12% in Q1 compared to the same period last year. This is the result of launching new productive wells, as well as effective work with the old fund. Our goal is to maintain this trend and reach production growth also according to the results of the year," said Oleksii Chernyshov, head of Naftogaz.

As Ukrainian News Agency earlier reported, Naftogaz plans to produce 15 billion cubic meters of natural gas in 2024 at the expense of UkrGasVydobuvannya and Ukrnafta.

In 2023, UkrGasVydobuvannya produced 13.5 billion cubic meters of natural gas, and Ukrnafta increased natural gas production by 6% to 1.097 billion cubic meters.