Burisma Group Leads the Way in Oil & Gas Condensate Production Among Ukraine’s Private Companies

25 June 2018

Burisma Group increased oil & gas condensate production up to 10 thousand cubic meters per month putting it first among Ukraine’s private oil & gas producers in May, noted Burisma Group CEO Taras Burdeinyi. He is expecting more than 100 thousand tons of oil & gas condensate per year.

“At the beginning of the year, we commissioned the well No. 2 at the Yuzhno-Borislavska area and got promising oil production figures. We also have a 250% increase in gas condensate production at the Karaykozivske field – up to 180 tons per day, ” said Burisma Group CEO Taras Burdeinyi. This year we will are planning to continue developing and extracting oil & gas condensate at the Yuzhno-Borislavska area, where 2P oil & condensate reserves amount to more than 8 million tons.

According to the Ministry of Energy and Coal Industry of Ukraine, in January-March 2018, private companies increased oil production by 5.3%. In particular, the largest private oil producer Poltava Gas and Oil Company increased production by 21.5% to 6.7 thousand tons. Also, private companies increased the condensate output by 8% to 58.6 thousand tons.

In Q1 2018, Ukrnaftoburinnya increased production up to 10.3 thousand tons or 61%, whereas “Geo-Alliance” – by 6.6% to 8.1 thousand tons. “Naftogazvydobuvannya” (“DTEK- Neftegaz”) reduced the production of gas condensate by 10.9% to 12.7 thousand tons. The output of condensate produced by Burisma Group was around 10 thousand tons.

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