DTEK Oil&Gas Invests More Than UAH 3 Billion in Production and Modern Technologies in 2019

Oil and gas01 March 2019

The gas industry cannot develop without systemic investments. This opinion was expressed by the Igor Shchurov, General Director of DTEK Oil&Gas, during his speech at the 10th anniversary Ukrainian Energy Forum in Kyiv. According to him, systemic investments and modern technologies helped the company to increase gas production by more than 3 times in 4 years – from 500 million cubic meters in 2013 to more than 1.6 billion cubic meters of gas in 2016 – and it consistently retains this figure as part of the strategy for the development of existing assets.

DTEK Oil&Gas Invests More Than UAH 3 Billion in Production and Modern Technologies in 2019

“During these years, we have systematically invested in exploration and drilling, construction of ground infrastructure, attraction of modern equipment and latest technologies. The total investment in 6 years is about UAH 10 billion", said Igor Shchurov.

He also noted that there are currently three key factors of changes in the gas industry that the achievement of energy independence of Ukraine relies upon.

“First are systemic investments necessary for the development of gas production in the long term. Second, of course, are technologies necessary to improve the efficiency of field development and increase the rate of extraction of reserves. Third, effective work with the existing companies of all forms of ownership to increase production in the short term. I can confidently say that the effect of implementation of these three factors can be obtained both in the long term and this year already,” commented Igor Shchurov.