Business News, 09/09/2017

Chinese Company to Drill Gas Wells in Kharkiv Region

Ukrgazvydobuvannia signed contracts with Xinjiang Beiken Energy Engineering Co., China, to drill 24 new wells in Poltava and Kharkiv regions. The drilling will begin in the last quarter of 2017. The total value of the signed contracts is 1.934 billion UAH ($74.4 million).

On October 2016 Ukrgazvydobuvannia announced a tender with a total expected value of up to 13.036 billion UAH ($501.4 million) to engage foreign contractors in drilling operations in Kharkiv and Poltava regions.

The contracts have already been signed with Spetsmekhservis LLC, Crosco and Xinjiang Beiken. Contracts with Poltava Services are expected to be signed.

Reference: Ukrgazvydobuvannia was established in July 1998. Today it is the largest gas production company in Ukraine. The company extracted 14.5 billion cubic meters of gas in 2015, which constituted approximately 75% of all Ukrainian production. The company has ten branches, three regional gas production divisions, own drilling and service subsidiary, gas and gas condensate processing division, and R&D institute.

Text: Iryna Klymenko

Photo: Focus