Ukraine has every opportunity to significantly increase gas production and in three or four years to abandon its imports, investing $1-1.5 billion in development of deposits, but Ukrainian oligarchs and the leadership of Naftogaz Ukrainy are interested in preserving deficit in the Ukrainian gas market, businessman Konstantin Grigorishin, who owns a number of regional power supply companies and power engineering enterprises, has said.

"To increase gas production in Ukraine by 10 billion cubic meters and become a deficit-free country, we need to drill 500 wells. The cost of drilling one well is about $3 million. I think it be even cheaper - $2 million... So, it is possible to reach 30 billion cubic meters (of production per year) in three or four years," the businessman said in an interview with the Energoreforma (Energy Reform) resource of Interfax-Ukraine.

He explained his lower estimate of the cost of drilling with a large number of service companies in Eurasia, which, in the face of falling oil prices and lower investment, are ready to cut prices.

"A total of $1-1.5 billion. For comparison, the net profit of Naftogaz and Ukrgazvydobuvannia after the increase in gas prices is also $1.5 billion. That means we even do not need to attract investors," Grigorishin said.

According to him, the country has already built the necessary infrastructure, in particular, pipelines and gas refineries. Therefore, in fact, the matter concerns only investment in drilling wells.