Oil and gas extraction (industrial field development) of the Krasnoil field (before Paleozoic deposits)

Limited liability company «GEOLOGICAL INVESTMENT GROUP»
Investment amount, USD
Region Chernivtsi
Sector Extraction
Location Chernivtsi region, Storozhynetsky district, Storozhynets
Opportunity Acquisition of a natural business
Status Under development
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Special permit for the use of subsoil No. 6558 dated September 6, 2021, valid for 20 years.

The reserves were approved by the State Commission of Ukraine on Reserves, Protocol No. 5268 dated February 25, 2021.

In quantity: С₁ – 3 million m³, С₂ – 234 million m³ (total), 52 million m³ (122), 5 million m³ (222), 177 million m³ (332), С₂ pzb – 7 million cubic meters of natural gas.


Two wells No. 9a Krasnoilska and No. 3 Svyatoslavska are in operation.
Natural gas is sold on the gas market to gas supply organizations at a price that is formed on the basis of trading results on the Ukrainian Energy Exchange. The Company carries out the transfer of natural gas obtained in the course of operations at the Krasnoil gas field to the gas transportation system of Ukraine through the gas pipeline of the Sheremetyevo gas field on the basis of a payment contract for the provision of gas preparation services. A 31.36 km long gas pipeline connecting to the Sheremetyevo gas field gas pipeline has been laid. A gas treatment plant was built and put into operation.

Additional perspectives:

Well No. 15 (2.5-3.0 thousand cubic meters/day) put into operation, work on its intensification is underway after carrying out additional studies, there is a possibility of increasing the production potential and the possibility of restoring Well No. 11 (20-30 thousand cubic meters/day). The wells have several productive horizons that can be developed alternately. Additional exploration of the area can lead to an increase in production up to 70,000 cubic meters per day.

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