Ukraine’s largest gas producer JSC UkrGasVydobuvannya and the Romanian Expert Petroleum have signed a contract to intensify gas production at depleted fields in Ukraine for a 15-year period. This was reported on the Naftogaz’s website on April 21.
“Within the framework of the first full-fledged service contract in the history of Ukraine’s oil and gas industry, the western partner pledged to invest about UAH 1 billion (USD 30 mln) to intensify gas production, well drilling, infrastructure development and, potentially, will carry out additional investments in the future,” the report reads.
A partnership with Expert Petroleum will provide an additional production of at least 300 million cubic meters of gas at 13 small-sized fields in Western Ukraine within five years.
The intensification of operations, the increase in taxes and other budgetary contributions will allow Ukraine to accumulate more than UAH 4 billion in additional GDP of Ukraine and Lviv Oblast.
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