Burisma Expects 50% Rise in Gas Production in 2016

March 14, 2016

In 2016, Burisma Holdings Ltd is planning to increase natural gas production by 50%, or 600 million cubic meters to up to 1.8 billion cubic meters, compared to last year. Company’s press service told the Ukrainian News.

“In December 2015, companies in the Burisma group, as well as those in the consolidation phase reached an annual gas production volume of more than 1.2 billion cubic meters. In 2016, Burisma Holdings is planning to reach the production level of 1.8 bcm “, the company’s press-service reported.

At the beginning of 2016, Serinus Energy (earlier – Kulczyk Oil Ventures Inc) sold 70% shares of KUB-Gas (Kharkov) to Burisma’s affiliate, Resano Trading Ltd.

As Ukrainian News reported, founded in 2002, Burisma Holdings consists of four operating companies engaged in mining and production of hydrocarbons, including the Energy Service company ESCO-PIVNICH, Pari, the First Ukrainian Petroleum Company and Aldea.

Burisma Holdings owns 20 licenses for extraction of hydrocarbons in Ukraine.