PRESS RELEASES

Managers of SigmaBleyzer, an international direct investment fund, and Henry Petroleum, an American oil and gas company, visited gas extraction facilities of DTEK Oil&Gas located in the Poltava Oblast. The foreign businessmen had an opportunity to study prospects of investing in the Ukrainian oil and gas industry during their visit.

DTEK Oil&Gas specialists presented their experience in improving the efficiency of assets and implementation of innovative approaches which helped increasing the company’s gas production more than threefold.

SigmaBleyzer and Henry Petroleum representatives were given a demonstration of a dispatch and operational control system, high-flow-rate well no. 7 of the Semerenkivske Field equipped with a modern telemetry system and solar panels, as well as Olefirivka gas gathering facility operated by DTEK Oil&Gas.

In their turn, the representatives of SigmaBleyzer and Henry Petroleum noted that the encouragement of gas extraction and integration of the Ukrainian gas sector into the European system are the major elements of ensuring the energy security of Ukraine. However, this aim can be achieved only if the beneficial investment climate and the basis for the entry of foreign companies to the market are created.

“At the moment, Ukraine has absolutely uncompetitive tax rates in comparison with Romania as our immediate neighbour, and very long terms for obtaining licenses, which puts Ukraine at a disadvantage. On the other hand, DTEK Oil & Gas showed us a potential and demonstrated a successful business employing a western management model and following a philosophy shared by us,” underlined the founder and CEO of SigmaBleyzer Michael Bleyzer.

“Three components drive the development of the domestic gas production sector: stable investments, modern technologies, and skilled professionals. The entry of global companies to the Ukrainian market will support the formation of these drivers and, ultimately, the progress of the industry in general. DTEK Oil&Gas, being the largest private gas production company in Ukraine, spares no effort to achieve the gas independence of Ukraine. This is exactly why we reached agreement with Henry Petroleum and SigmaBleyzer to continue our dialogue and share information on further investments in the industry,” said Igor Shchurov, CEO of DTEK Oil&Gas.