DTEK mulling expansion of its oil and gas business

DTEK is considering the possibility of expanding its oil and gas business in Ukraine, CEO of the company Maksym Timchenko has said in an interview with the Ekonomichna Pravda edition.

"We are constantly studying the deposits of all available players on the market. That is, we are open to expanding our business, without exception, with all players, including state-owned companies. If there are such opportunities not only for acquisitions, but also for joint activities, some kind of joint projects in exploration and production, we are ready for this," he said.

According to Timchenko, in particular, the assets of Geo Alliance group for DTEK are "a potential area of our interest." At the same time, he did not comment on the details of the negotiations.

As reported, in 2020 DTEK Oil and Gas increased natural gas production by 10.8% (by 180 million cubic meters) compared to 2019, to 1.84 billion cubic meters. In 2021, the company plans to increase gas production to 2 billion cubic meters.

Geo Alliance produced 203 million cubic meters of gas in 2020.

Geo Alliance is under the mandate of the international investment and consulting group EastOne, which unites the assets of Victor Pinchuk. In 2012, EastOne announced a strategic partnership between Geo Alliance and Arawak Energy Ukraine BV, part of the Vitol group of companies, one of the largest operators in the world energy market.

Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

https://en.interfax.com.ua/

Related news
Biden and Putin Exchange Diplomatic Pleasantries, but Differences Remain.

Biden and Putin Exchange Diplomatic Pleasantries, but Differences Remain.

Human rights, cybersecurity, Ukraine continues to be sticking points

Gutfeld: You only need a tiny minority to destroy society.

Gutfeld: You only need a tiny minority to destroy society.

'Gutfeld!' panel discusses liberal musician who got canceled for denouncing arson during George Floyd riots. #FoxNews #Gutfeld Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24-hour all-e...

Your money: Getting deals as consumer prices spike

Your money: Getting deals as consumer prices spike

Consumer Reports Deals Editor Samantha Gordon offers tips and tricks to save money as consumer prices rise. ABC News Live Prime, Weekdays at 7EST & 9EST WATCH the ABC News Live Stream Here: SUBSCRIBE to ABC NEWS: Watch More on LIKE ABC News on FAC...

Ingraham: Biden's overseas failures exposed

Ingraham: Biden's overseas failures exposed

'The Ingraham Angle' host sounds off on the president's widely-panned G-7 performance. #FoxNews #Ingraham Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24-hour all-encompassing news serv...

Experts break down historic meeting between Biden and Putin.

Experts break down historic meeting between Biden and Putin.

The Geneva summit marks a major milestone in Biden’s presidency. Political analysts Rahm Emanuel and Sara Isgur discuss.

China launches it's Shenzhou-12 crewed rocket to its new space station.

China launches it's Shenzhou-12 crewed rocket to its new space station.

China’s Shenzhou-12 with three astronauts blasts into space on a mission to build its own space station Read more here: From Brexit breaking news to HD movie trailers, The Sun newspaper brings you the latest news videos and explainers from the UK ...