Ukrnafta found billions of hryvnias to increase oil and gas production

August 30, 2024, 12:46 pm

The state-owned Ukrgasbank and Ukrnafta entered into a loan agreement for a total of UAH 4 billion, through which they plan to finance the investment program. For this reported Ukrnafta press service.

It is explained that the company will use the loan money to increase oil and gas production and implement co-generation projects.

As the director of Ukrnafta Sergei Koretsky pointed out, the money raised is intended to be used to finance drilling and production intensification programs and the construction of modern gas piston stations.

“We, as a state bank, are doing everything possible to help the country, therefore, we are supporting a company that is working to increase production and develop new decentralized capabilities that will strengthen the Ukrainian energy system after losses due to attacks the enemy.” emphasized Rodion Morozov, acting O. Chairman of the Board of Ukrgasbank.

It has been reported that Ukraine does not intend to renew the agreement with the Russian energy giant Gazprom on the supply of Russian natural gas to Europe. President Vladimir Zelensky said this. The current agreement between Gazprom and Ukraine expires in December, and, according to President Zelensky, gas supplies will stop after that.