Burisma Holdings, the largest independent gas producer in Ukraine reported preliminary results for the ten-month period, 2014, and set forth key 2015 priorities. In January-October, 2014, the total natural gas production amounted to 560 million cubic meters, which is 58% more compared to the same period last year. By the end of this year, Burisma Holdings is planning to produce more than 700 million cubic meters of natural gas. At year-end 2014, the Company invested around UAH 2 billion. Based on a previously approved strategy, Burisma Holdings intends to put into operation another 28 wells and invest around UAH 3 billion in case of subsoil use tax reduction. In 2015, the Company is aiming to produce more than 1 billion cubic meters of natural gas.
“Openness and operational transparency are key factors in the activities of the largest independent gas producer in Ukraine. By means of economic results, we would like to demonstrate the work scope performed in our fields over the last year as part of the innovative approach. Actually, we showcased these results to the experts and major Ukrainian media representatives”, said Advisor to the Board of Directors Vadym Pozharskyi.
In fact, Burisma Holdings demonstrated the work conducted in three of its fields in a recent presentation tour. Experts and media representatives had a rare chance to climb the highest drilling rig in Ukraine, take a look at a newly installed methanol regeneration unit and Western technologies in process, as well as talk to the consultants of US drilling crews.
“The Company is continuously applying best Western practices in corporate standards as well as technological processes of drilling and exploration. Our Company leads not only in production volumes, but also in adoption of new technologies among independent private gas producers”, added Vadym Pozharskyi.
According to him, today Burisma Holdings makes an integral part of the National strategy of energy independence of the country, seeking to increase domestic natural gas production through the introduction of unique global technologies. The use of US drilling equipment and the involvement of experienced drilling crews helped bring drilling speed up to 25-28 days at 3000-meter deep wells, which is 5 times faster compared to standard market indicators.
Transparent policy and cooperation with gas market members, experts and media representatives applied by Burisma Holdings, contributes to the dialogue with professional community both locally and globally.
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