Naftogaz Group and the US Department of State have agreed on a partnership in the oil and gas sector that will involve American companies in hydrocarbon production in Ukraine, according to Serhii Fedorenko, Acting Chairman of the Board of Naftogaz of Ukraine.
"We have jointly signed a Memorandum that expands our cooperation and opens up new opportunities for Ukraine to attract American investment. The document establishes a framework for involving US companies, their technologies and expertise in projects that will increase production and improve the efficiency of the sector," Fedorenko wrote on Facebook on Wednesday.
He explained that the United States is a global leader in the oil and gas industry, while American companies possess unique technologies, expertise and, most importantly, investment capacity. Joint projects, he said, would take business relations between the two countries to a new level.
The head of Naftogaz noted that the next step would be to engage potential investors in negotiations and turn the cooperation into concrete investment projects.
For his part, Yurii Tkachuk, CEO of Ukrgasvydobuvannya JSC, noted that cooperation under the memorandum would create opportunities for joint exploration, strategic planning, optimisation of production resources, attracting American and international co-investors, as well as professional development and knowledge transfer.
"For Ukrgasvydobuvannya, this cooperation will strengthen our technological capabilities, improve production efficiency and support increased output of natural gas and liquid hydrocarbons," Tkachuk emphasised.
