Expert Petroleum will start operations on October 1

The international Company Expert Petroleum will start working on production enhancement at 13 depleted gas fields in the Lviv region on October 1. These fields were transferred for the temporary management by Naftogaz Group under the condition of at least UAH 1 billion investment and production enhancement by 300 million cubic meters over 5 years.

Ukrgasvydobuvannya, a member of the Naftogaz Group, on September 11, 2020 signed the final package of documents with Expert Petroleum on cooperation on the terms of product enhancement contract - PEC. This allows an international company starting operating in the fields of Naftogaz as early as October 1, 2020.

«According to the terms of the PEC, all gas produced remains on the balance sheet of Naftogaz, and the company’s assets are transferred to the partner exclusively for temporary management for the duration of the contract. Production plans for the transferred fields are approved by the Steering Committee, which is 100%, composed of Naftogaz representatives. Thus, the interests of our company are protected as much as possible. They were given an absolute priority,» Oleksandr Romanyuk, Director of the Naftogaz’s Exploration and Production Division said.

12:09 / 14 September, 2020

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