The Board of Directors at Burisma Group approved an investment project for the construction of a new condensate stabilization unit to extract a propane-butane mixture from natural gas. It will be implemented in the Kharkiv region on Vodyanivska area. This was announced earlier by Burisma Group CEO Taras Burdeynyi.
According to him, this will allow the Group to increase wells profitability using latest technologies and maintaining compliance with regulatory requirements.
The project will be carried out in 2018-2019. Burisma Group is planning to invest roughly UAH 300 million. Based on preliminary estimates, the unit is expected to reach projected capacity by the end of 2019.
“For a while now, we have been planning to build a condensate stabilization unit to extract a propane-butane mixture from natural gas, however, we were lacking raw materials to put it to good use. At the start of 2018, the Group obtained positive drilling results from Karaykozivske and Vodyanivske fields. At the end of May, the investment project was submitted for review and approval by the Group’s Board of Directors”, says Taras Burdeynyi.
According to Burisma Group CEO, the unit’s capacity will exceed 50 thousand tons per year. Raw materials will come from Burisma’s production areas in the Kharkiv region.
Burisma Group is one of Ukraine’s largest private gas production companies. At the end of 2017, the Group’s operating companies produced more than 1 billion cubic meters of gas and 40,000 tons of oil & gas condensate. Over the first six months of 2018, the company successfully completed drilling of three superdeep wells, and the daily increase in hydrocarbons reached 35%.