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EP Ukraine to start exploration and hydrocarbon production in two fields

The Ukrainian government has approved the winning companies for its Grunivska, Okhtyrska and Ichnyanska Production Sharing Agreements (PSAs). The winners are going to be engaged in the exploration and potential hydrocarbon production in the country.

According to the results, EP Ukraine – 90 per cent owned by energy utility EP Power Europe and 10 per cent owned by Slovakia’s NAFTA – was successful in two of the PSAs, Grunivska and Okhtyrska.

The winners were selected from evaluation criteria developed by market experts, international advisory companies and energy organisations.

EP Ukraine has begun extensively investing in the first phase of seismic measurement and drilling of exploration wells, actively utilising local Ukrainian services, materials and expert skills. It welcomes the opportunity to implement its financial and technological potential to dynamically develop Ukraine’s energy sector.

EPH, as the major shareholder of EP Power Europe and NAFTA, operates actively in the Czech Republic, Slovakia, Germany, France, the United Kingdom, Ireland, Italy, Poland and Hungary. EPH’s business covers the whole spectrum of energy production and distribution. Meanwhile, NAFTA as Central European leader in oil and gas production and storage operations with over 105 years of experience is ready to secure active development of individual hydrocarbon licenses.

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