PRESS RELEASES

Igor Shchurov has been appointed Chief Executive Officer of DTEK Oil&Gas, an operating company within DTEK oil and gas holding company. The objective of this appointment is to upgrade a business management model, boost hydrocarbon extraction performance, and develop new advanced projects.

Prior to his appointment as DTEK Oil&Gas CEO, Igor Shchurov managed DTEK’s core gas extraction asset, PJSC Naftogazvydobuvannya. Under his leadership, the company increased gas output 2.5 times up to 1.3 bcm in 2015. The company drilled 13 wells with the depth varying between 5,470 and 6,750 meters, performed WAZ 3D seismic survey, and built modern Olefirivka gas gathering facility.

In his new office, Igor Shchurov will take the leadership over the single oil and gas business management centre. The centre will concentrate the following strategic functions: financial and production planning, commercial operations, regulatory matters, and business development. Production assets, PJSC Naftogazvydobuvannya and Naftogazrozrobka LLC, will focus on hydrocarbon exploration and extraction accordingly.

“In the past three years, DTEK became an undisputed leader in private gas extraction. Further development, which includes both assets growth and output increase, requires an efficient business management model. DTEK Oil&Gas lead by Igor Shchurov will continue implementing modern solutions and technologies, and retaining skilled professionals, and I am confident that the company will be able to make a considerable contribution to promoting the development of the national gas extraction and fostering Ukraine’s energy independence,” commented Maksym Tymchenko, DTEK’s CEO.

“DTEK Oil&Gas’s overriding priority is to enhance the efficiency of hydrocarbon exploration and extraction at the deposits that are already being developed. Simultaneously, we will look for new opportunities for scaling up our business. Our strategy envisages both participation in public auctions for new license sites and acquisition of operating high-potential assets,” commented Igor Shchurov, CEO of DTEK Oil&Gas.

During the transition period, PJSC Naftogazvydobuvannya will be temporarily managed by a management team comprising of Natalia Grebenyuk, Oleksii Zakharchuk, and Oleksandr Selyshchev.