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UkrGasVydobuvannya

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UkrGasVydobuvannya (UGV)
Native name
УкрГазВидобування
Company typePublic joint-stock company
IndustryNatural-gas processing
Founded1998
HeadquartersUkraine,
Kyiv
Key people
Oleg Prokhorenko (CEO)
ServicesExploration of gas and gas condensate reserves
ParentNaftogaz
Websitehttp://www.ugv.com.ua/

The state-owned public joint stock company UkrGasVydobuvannya (Ukrainian: ПАТ "Укргазвидобування") is the largest Ukrainian gas producer.[1] It is a vertically integrated company with a complete production cycle: from exploration of gas and gas condensate reserves, field development, transportation, gas processing and condensate and oil refining to sales.[2]

The company is Ukraine's largest natural gas producer, producing 70% in the country's production.[3]

History

UGV is a subsidiary of a state-owned National Joint-stock company "Naftogaz of Ukraine".[4]

UGV was founded in 1998 by a merger of gas extracting divisions of SC "UkrGasProm" and some other Ukrainian gas extracting companies.[5]

Company activities

In 2015 the company produced 14.5 bn m3 of gas in 2015, which accounts for 75% of total gas production in Ukraine. It increased natural gas production in 2017 by 4.8%, to 15.25 bcm.[3] UGV also produced more than 20% of all oil and condensate in Ukraine.

In 2016 its subsidiary "Shebelinka Refinery" launched production of Euro 4 and higher standards gasoline (according to European emission standards classification) and Euro 5 Standard diesel fuel.[6]

Company structure

Areas of extraction include Kharkiv, Poltava, Sumy, Donetsk, Lugansk, Dnipropetrovsk, Lviv, Ivano-Frankivsk, Carpathian Ruthenia and Volynska regions. Exploration activities are carried out in the Dniprovsko-Donetska cavity and the Carpathian Mountains.

UGV Transformation

The current chairman of the UGV Board Oleg Prokhorenko was appointed in June 2015 as a result of an open selection process initiated by the Government of Ukraine.[7]

The current management team has adopted the 'Strategy 20/20' which envisages the increase of own natural gas production to 20 bn m3 in 2020. The strategy focuses on improving the economic efficiency of Company's assets, optimization of internal functions, fight against corruption and deregulation.[8]

See also

References

  1. ^ "Naftogaz ordered to repay $80 mln debt to its subsidiary". RAPSI. Retrieved 29 June 2017.
  2. ^ "History - ПАТ Укргазвидобування". ugv.com.ua. Retrieved 29 June 2017.
  3. ^ a b Ukrgazvydobuvannya opens another gas field in Ukraine's Kharkiv region, UNIAN (08 June 2018)
  4. ^ "Types of Activities". www.naftogaz.com. Retrieved 29 June 2017.
  5. ^ "Ukrgasvydobuvannya Public Joint Stock Company: Private Company Information - Bloomberg". www.bloomberg.com. Retrieved 29 June 2017.
  6. ^ "На Шебелинском ГПЗ начали выпуск бензина Евро-5". Retrieved 29 June 2017.
  7. ^ "Oleg Prokhorenko: Corruption threatens to choke reforms of state gas producer - KyivPost". Retrieved 29 June 2017.
  8. ^ ""UGV company overview and 20/20 strategy" (PDF). Energy Community Ukraine. Retrieved 21/03/17" (PDF). Retrieved 29 June 2017.
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