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Ukraine’s gas, oil production to increase, Chernyshov

Ukraine has achieved energy independence as the first country in history. 

Ukraine’s gas, oil production to increase, Chernyshov
Photo: Naftogaz

Naftogaz plans to make Ukraine a net energy exporter. This year, Naftogaz managed to increase oil and gas production. This was stated by Oleksiy Chernyshov, Chairman of the Board and CEO of Naftogaz of Ukraine, during the Made in Ukraine forum, a LB.ua correspondent reports.

"This year, Naftogaz Group managed to increase oil and gas production. In this part, we have actually achieved energy independence as the first country in history. We do not import gas. This means we keep our currency, we keep money in the country. And we pay taxes of over UAH 100 billion annually to the state budget of Ukraine," he said.

According to Chernyshov, the company plans to further increase production volumes.

"I plan to increase the volume of gas and oil production in this country. And I plan to make this area a net exporter for other countries," he said.

The Naftogaz CEO is sure that the country has every reason to become competitive.

"The only way is to invest in technological areas and attract these investments. And, of course, we all remember and talk about this a lot, that the only way to achieve this is to reform this country and implement the reform package that will facilitate and motivate an external investor to come here and develop this market," Chernyshov said. 

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