The first well PGNK in 2019 gave products

The joint venture Poltava Petroleum Company (PGNK) announces the start of production from well No. 3 on Zapadno-Mashevskaya Square. This is the first well drilled by the company in 2019. The well was drilled by directional drilling with a distance of 625 meters from the vertical. Drilling time was 106 days, well depth – 3570 m. The average daily production rate today is 126 thousand cubic meters. m

“In accordance with the approved 5-year development plan, PGNC began operations in West Mashevskaya Square. The first project on this site – repair of well No. 215, which PGNC operates under the service contract with the groundwater level, was successfully implemented last year. In December 2018, the drilling of a new well No. 3 began. Today I am pleased to announce the start of production from the well. We continue to study the potential of this area, for this we conducted a 3D seismic. There are plans to drill several new wells on our licenses, ”said Victor Gladun, General Director of the JV PGK

“This is the first well that was drilled by PGNK in Zapadno-Mashevskaya Square. Drilling took place in difficult geological conditions, but without serious complications. The well was pierced and commissioned. All work performed by Ukrainian contractors. So, drilling was carried out by the Poltava company LLC “Spetsmehservis. Services provided by directional drilling were provided by Ukrnaftagazservis, the drilling mud was supplied by NIKB BI, CJSC, said Nikolay Orinchak, technical director of PGNK.

In September 2018, JKX Oil & Gas plc, the parent company of PGNK, approved the development plan of PGNK for 5 years. Well # 3 was drilled as part of the implementation of this plan. Recall that this is the second drilled well after an almost 5-year absence of work on new drilling. In the third quarter of 2018, the E308 well was commissioned at the Elizavetovskoye field. Also note that at 2019 PGNK planned the drilling of several new wells and lateral wells.

In addition to new drilling, the company continues to implement the program for the workover and intensification of production, including from the fund of leased wells. Due to these projects, PGNS following the results of the 1st quarter of 2019 increased the indicators of hydrocarbon production by 35.1% compared to the 4th quarter of 2018.



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