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DTEK Oil&Gas signed PSA for the Zinkivska block
31 December 2020, Ukraine
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"The year 2020 was a difficult one for the gas production sector not only in Ukraine, but also around the globe because of the pandemic and a record drop in gas prices. That is why signing a PSA at the end of the year is a strong positive signal for the industry, which will considerably boost Ukraine's investment image. An efficient implementation of the agreement for the Zinkivska block is an integral component of the DTEK Oil&Gas 2030 strategy and, unquestionably, the most important step towards ramping up gas production in the country and strengthening Ukraine's energy independence," said Igor Shchurov, CEO of DTEK Oil&Gas.
It is worth reminding that at the meeting on Monday, December 28, the Cabinet of Ministers of Ukraine approved the text of seven production sharing agreements (PSA) for hydrocarbon production in Ukraine. The State Service of Geology and Subsoil of Ukraine was authorised to organise and run the PSA implementation process.
As we informed earlier, the total amount of investments to be made by all successful tenderers under the PSAs will range from USD 430 mln to USD 1 bln.
DTEK Group is the largest private investor in Ukraine’s energy sector, with 55,000 employees and over €12 billion of capital invested since 2005.
Our businesses generate electricity at wind, solar and thermal power plants; distribute and supply power to end consumers; extract natural gas and coal; trade energy resources on Ukrainian and foreign markets; and provide domestic and commercial energy services.
Over the last 20 years, DTEK has grown into a national energy leader and is today transforming into a pan-European clean energy business.
Since the full-scale invasion of Ukraine in 2022, DTEK Group has restored power to millions of consumers across regions affected by hostilities.
DTEK Group is 100% owned by SCM Holdings. The ultimate beneficiary and sole shareholder is Rinat Akhmetov, a businessman and philanthropist.
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