Ukrgasvydobuvannya acquires new promising oil and gas area

Ukrgasvydobuvannya JSC has won an e-bidding for procurement of a licence for the use of subsoil of the Pyvdenno-Rusanivska area.

This area, according to preliminary evaluation of available geological information, has significant prospects for development of gas deposits.

The Pyvdenno-Rusanivska area has an acreage of 317 square kilometers and is located on the territory of Sumy and Poltava regions.

"We see great prospects in this area based on the results of previously conducted geological studies in this region. Our fields with proven potential are located nearby. The development of Dnieper-Donetsk Basin blocks requires application of modern technologies. To do this, we have strengthened our internal expertise and are attracting experienced international partners who will help attract the latest developments to Ukraine," Maxim Vityk, Naftogaz Exploration and Production Division Director of Strategic Projects, said.

Ukrgasvydobuvannya purchased Pyvdenno-Rusanyvska area for UAH 304.6 million, which will go to the state budget of Ukraine. The company received the title for the Pyvdenno-Rusanyvska area for 20 years.

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