UkrAzOil to bore one and restore three gas holes in Lviv and Ivano-Frankivsk oblasts

At present, the self-cost of gas extraction for UkrAzOil amounts to Hr 275 per 1,000 cu.m. of gas. At such a cost, gas extraction is loss-making for the company because it has to sell gas to clients at fixed prices. “After we increase the number of operating holes, we hope to work with a profit,” UkrAzOil says.

Comment by ZIK

In 2007, UkrAzOil drilled one and restored another one hole. Under the contract with Nadra Ukrayiny Co., UkrAzOil is to restore 30 holes put on hold in 1969.