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DTEK invests in Ukrainian gas production during the war
29 November 2022, Ukraine
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Companies that are part of DTEK Oil&Gas portfolio have acquired the right to develop two gas fields in Poltava region for UAH 1.3 billion at an open auction.
DTEK will pay UAH 1.102 billion to the state budget for the development of Maiorivska field and UAH 211 million for the development of Birkivsko-Zinkivska field.
Both fields are to be included in the general model of the company's development of gas fields in Poltava region.
DTEK has long been studying the possibility of investing in these areas. In total, they are expected to be worth several billion hryvnias. Successful development of these fields will significantly strengthen Ukraine's energy independence.
"We believe in our country's victory and continue to invest in Ukraine despite the war, despite the enormous destruction of its infrastructure. Our task is to provide Ukraine with its own gas and become a gas exporter to Europe. To become a guarantor of the EU's energy security,"
says DTEK CEO Maxim Timchenko.
The fields require a detailed geological study to confirm their prospects and further commercial development.
DTEK started investing in gas production in 2012. Over 10 years, the company has invested about US$500 million in gas production and managed to increase it by more than 4 times.
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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