DTEK invests in Ukrainian gas production during the war

Companies that are part of DTEK Oil&Gas portfolio have acquired the right to develop two gas fields in Poltava region for UAH 1.3 billion at an open auction.

DTEK will pay UAH 1.102 billion to the state budget for the development of Maiorivska field and UAH 211 million for the development of Birkivsko-Zinkivska field.

Both fields are to be included in the general model of the company's development of gas fields in Poltava region.

DTEK has long been studying the possibility of investing in these areas. In total, they are expected to be worth several billion hryvnias. Successful development of these fields will significantly strengthen Ukraine's energy independence.

"We believe in our country's victory and continue to invest in Ukraine despite the war, despite the enormous destruction of its infrastructure. Our task is to provide Ukraine with its own gas and become a gas exporter to Europe. To become a guarantor of the EU's energy security,"

says DTEK CEO Maxim Timchenko.

The fields require a detailed geological study to confirm their prospects and further commercial development.

DTEK started investing in gas production in 2012. Over 10 years, the company has invested about US$500 million in gas production and managed to increase it by more than 4 times.