Gas fracking starts in Ukraine

Nov. 4, 2011 at 6:58 AM

KIEV, Ukraine, Nov. 4 (UPI) -- A Polish company said it believes its hydraulic fracturing of a shale gas well in Ukraine is the first conducted in the country.

Polish energy company Kulczyk Oil Ventures said it used fracking technology on a Ukrainian shale gas play that yielded a preliminary flow rate of around 2.3 million cubic feet per day.

Kulczyk Executive Vice President Jock Graham was quoted by the Platts news service as saying his company was upbeat about the early results.

"By proving that the reservoirs in our license areas respond to modern frack technology, we have opened the door to substantial upside to our Ukraine project," he said.

Platts adds the fracking campaign is a first for Ukraine.

Ukraine and Poland have some of the riches shale gas deposits in Europe, with Ukraine estimated to have as much as 88 trillion cubic feet of recoverable shale reserves.

U.S. supermajor Exxon Mobil signed a preliminary deal with Naftogaz early this year and Ukrainian Energy Minister Yuri Boiko said he was expecting shale gas auctions soon.

Ukraine is trying to strengthen its position in the regional energy sector after a series of disputes over natural gas transits with Russia.

Washington in February agreed to finance surveys of Ukraine's shale gas deposits.

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