Ukrnafta signed a framework agreement with the German company Oil Dynamics to provide comprehensive and modern technological solutions for intensifying oil and gas production.

"We are talking about the supply of electric pumping systems that allow efficient oil production, control stations and software that increases the life cycle of such systems through continuous remote monitoring," the company said in a press release on Thursday.

As the director of Ukrnafta, Serhiy Koretsky, quoted in the document, said, Oil Dynamics equipment was developed and manufactured in Germany within the framework of the Industry 4.0 concept and complies with API standards.

"The concluded agreement provides for the possibility of cooperation over the next five years – until 2028," he noted.

According to the first order, the company expects to supply 200 electric center pump units in four batches of 50 units, starting in December 2023.

"Thus, Ukrnafta will implement the well digitalization project within the framework of the Digital Field concept, according to which leading companies in the mining industry operate," the company emphasized.

Ukrnafta is the largest oil producing company in Ukraine, operating a national network of 537 gas stations, of which 456 are operational.