🔥Naftogaz attracted Expert Petroleum through the open tender to increase hydrocarbon production on fields of JSC Ukrgasvydobuvannya in Western Ukraine.
The company will invest about UAH 1 billion into intensification, drilling and development of infrastructure in the first 5 years of cooperation and, potentially, make additional investments after.
According to Naftogaz, the partnership between Naftogaz and Expert Petroleum will generate at least an additional 300 million cubic meters of gas within 5 years from 13 small fields in Western Ukraine. The intensification of work, increase in taxes and other budgetary contributions of the partnership will help to accumulate more than UAH 4 billion in Ukraine’s GDP and Lviv region in particular, calculated Expert Petroleum.
Expert Petroleum is a French-owned company that is part of the GMS holding group. Expert Petroleum maximizes mature oil & gas fields potential by investing in these assets taking execution and incremental production risks through a long term Production Enhancement Contract (PEC).
