Burisma Group Starts Efforts To Recover First Three Wells At Dubrivsko-Radchenkivskа Oil And Gas Site

26 March 2020

The Group is using its machines of domestic and foreign origin including Wilson Mogul 42, UPA-60, Kremco-750, К200 to carry out the works.

Burisma Group purchased the Dubrivsko-Radchenkivskа oil and gas area of 65,4 sq km. a year ago at the first online auction held by the State Service of Geology and Subsoil for UAH 25,1 million. The lot starting price was UAH 17.5 million.

“Unfortunately, it took a lot of time to approve the documentation and study the situation. But we are sure that the Dubrivsko-Radchenkivskа site is prospective in terms of gas production, and therefore we are ready to invest into restoration of abandoned and suspended wells to return them into the active stock and look for new drilling locations. This direction can result in additional volumes of national gas extraction, which will promote strengthening of energy security of Ukraine,” said Karina Zlochevska, Burisma Group Board member.

Burisma Group is currently at the stage of concluding a lease agreement for three abandoned and suspended wells. Moreover, in 2020, it is planned to recover eight wells that used to be on the balance of state-owned companies. The expected initial production rate of gas from each one of these wells can constitute 15-20 thousand cubic meters.

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