Rollyns: 2016 "Ukrnafta" intends to increase investment to 1.3 billion USD
February 05, 2016
PJSC "Ukrnafta", the largest oil company in Ukraine, in 2016 plans to increase investment to 1.3 billion USD to 0.5 billion USD last year, which will slow down the decline in production, the head of the Board "Ukrnafta" Mark Rollins. "The planned level of investment will not allow production to stabilize, but the fall will slow down," - he told journalists in Kyiv on Thursday.
M.Rollins added that initially the company planned an investment program for 2016 in the amount of UAH 2.5 billion, but it had to be revised downwards because of the fall in oil prices on the world market. According to the company, this year, "Ukrnafta" will drill 3 wells, production of which is scheduled to begin in 2016, as well as carry out the renovation of facilities for repair of electric pump equipment.
Reference
"Naftogaz of Ukraine" owns 50% + 1 share "Ukrnafta", a group of companies associated with the shareholders of PrivatBank - about 42% of the shares.
February 05, 2016
Energy policy. Oil and gas