Gas production in Ukraine is starting to interest foreign investors. In particular, the Slovak petroleum company, NAFTA, has announced its large-scale launch to the Ukrainian market with the intentions to implement a large natural gas production project on the Yuzivske field. This was announced by Josef Levoča, the Head of Exploration Department in NAFTA, during the working meeting with the representatives of the Association of Gas Producers of Ukraine.

«Your country has a huge resource potential for implementation of petroleum projects, and we are confident that Ukraine can soon become an energy self-sufficient state. Our company is the exploration and production leader in Slovakia, we are using the advanced technologies in our operations and we are ready to share the successful experience to develop Ukraine’s gas production», – Josef Levoča.

The representatives of NAFTA has told about their plan to participate in the PSA project and their readiness to take the obligation to drill at least 15 new wells on the Yuzivka field and invest up to US$200 million in the first five years.

The Association’s Chairman of the Board, Daniel Maydanik, has noted that Ukraine’s gas production sector in the past few years has not seen any new credible investors, who are willing to take large obligations and risks of developing big gas fields.

«The interest of the Slovak company is also a good signal for other potential investors. We are certain that stimulating taxation for gas production, which is active starting this year, will facilitate the attraction of a growing amount of foreign market players and advanced technologies in the industry, which should significantly increase performance», – told Daniel Maydanik.

«We have always welcomed and supported the come to gas production industry of competent investors, who possess the financial resources, the experience and desire to implement new projects in Ukraine. We are confident that expanding the circle of international players will facilitate the development of the sector, increase competition on the market, and most importantly – bring Ukraine closer to energy independence», – highlighted Roman Opimakh, the executive director of the Association.

Information sheet:

NAFTA – Slovak petroleum company, founded in 1913. During its operation, the company’s experts have drilled over 3,000 wells. Also, NAFTA possesses natural gas storage capacities of 2.74 bcm in Slovakia.

NAFTA is a part of the Central Europe’s largest vertically-integrated energy group, EP Holding, which owns 68% of its shares, 29% belongs to the government.

Starting mid-2016, NAFTA is implementing an exploration and development project jointly with the Canadian CUB Energy in the West of Ukraine. During the lifetime of the project, 3D seismic was performed, drilling of three exploration wells is planned for the second half of this year.