DTEK Oil&Gas to start oil production in next 1-2 years, to expand due to participation in auctions, acquisitions

14:56, 22.12.2020 1 min read

DTEK Oil and Gas in the next couple of years will start producing not only natural gas, but also oil, Maksym Timchenko, the director general of the company, has said.

"We see that in the next year, maybe two, DTEK will start producing oil in Ukraine," he said during the presentation of the company's strategy until 2030.

According to him, DTEK is actively expanding its portfolio of licensed hydrocarbon areas both through participation in auctions and through the purchase of private companies that hold special permits for subsoil use.

As reported, DTEK Oil and Gas increased natural gas production in 2019 by 0.7% compared to 2018, to 1.66 billion cubic meters.

DTEK Oil and Gas is an operating company in charge of the oil and gas business within the structure of DTEK Group. It is the largest private gas production company in Ukraine.