UGV and MND Group will work on hydrocarbon exploration in the west of Ukraine

Ukrgasvydobuvannya JSC (UGV) and Czech MND Group signed the memorandum of understanding regarding potential cooperation in the geological exploration and production of hydrocarbons in areas in Western Ukraine. This was reported by the press service of the UGV.

"This is a promising region, the disclosure of the resource potential of which will make it possible to stabilize the energy situation in Ukraine and increase the energy security of Europe," the message says.

MND has many years of experience in the production of hydrocarbons in the Czech Republic, and since 2014 has been engaged in exploration and production at five oil and gas fields in Ukraine. The companies plan to combine their knowledge of the Western Region to unleash the potential of under-explored areas.

"We are happy to support Ukraine in such a difficult period and join new projects on hydrocarbon production development. After all, the issue of Europe's energy security is something that our future depends on. Our Ukrainian division already has successful production projects in the Carpathian region. The experience of UGV's specialists who have been working in this region for over a decade will be valuable for the joint search for new production opportunities," Jana Hamrsmidova, Energy Division Director of MND Group said.

The companies signed the memorandum on October 7 in the Prague office of MND. From the side of UGV, the signatory was Maksym Vityk, director of strategic projects, from the side of MND – Jana Hamrsmidova.