Ukraine gas plant starts up

KUB-Gas LLC, a partially owned unit of Calgary-based Serinus Energy Inc., has completed and commissioned a gas processing plant at Makeevskoye, Ukraine.

Supplementing existing infrastructure, the added capacity raises KUB-Gas’s overall processing capacity to 68 MMcfd from 30 MMcfd. KUB-Gas anticipates gross production will ultimately increase by 5 MMcfd or more from existing wells previously constrained by plant limits, with further increases expected from ongoing drilling.

KUB-Gas is partially owned by Serinus (70%) through its 70% shareholding of KUBGas Holdings Ltd..

Construction of the Makeevskoye plant began in September 2013 and was completed in December. Testing and commissioning followed in early 2014 until final operating approvals were received, and gas began flowing into the plant on Mar. 6.

The plant was built at a cost of about $7.8 million.

Serinus’s announcement explained that existing facilities in Makeevskoye could not handle increasing production resulting from KUB-Gas’s recent exploration and development successes.

By diverting some of the newer wells in Makeevskoye to the plant, Serinus anticipates benefits at both Makeevskoye and Olgovskoye fields (OGJ Online, June 3, 2013).

Serinus closed out 2013 with overall production of 4,986 boe/d, of which 73% came from its Ukrainian assets. The company said its target for this year is to increase overall production by 30-35%.

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