During the Carpathian Eight summit, the Naftogaz Group and Czech oil and gas company MND signed a memorandum on potential co-operation on oil and gas production projects in Ukraine.
As the company’s press service reported, the document provides for MND’s possible participation in three existing production sharing agreements between Ukrgasvydobuvannya, which is part of the Naftogaz Group, and the Government of Ukraine.
The Czech company will be able to join the agreements following a competitive selection process. The initial investment volume under these three agreements could amount to $60m or more.
Potential co-operation will help attract additional investment, technology and international expertise for Ukraine’s production sector, Naftogaz said.