Polish PGNiG plans to invest $50 million in gas production in western Ukraine at the first stage as part of a partnership with the Energy Resources of Ukraine (ERU) group of companies, MP Andriy Gerus has said.
"At the first stage, it is planned to invest $50 million. And in the future, the volume of investments may reach up to $500 million," he wrote on his Facebook page after attending the 24th Gazterm gas conference in Poland.
As reported, early December 2019, the Polish company PGNiG SA and the Ukrainian group of companies ERU signed an agreement on the exploration and production of natural gas in Lviv region. The agreement provides for the drilling of an exploration well up to 2,500 meters deep at the initial stage, and measures to design the location of other wells.
In May 2021, the Antimonopoly Committee of Ukraine (AMCU) allowed PGNiG SA to acquire over 50% in Karpatygazvydobuvannia LLC, which belongs to ERU.
Energy Resources of Ukraine (ERU) is a group of companies with foreign investments specializing in the implementation of projects in the Ukrainian energy sector. It is one of the largest private importers of natural gas and electricity to the country. ERU Group belongs to Yaroslav Mudry and Dale Perry.
PGNiG is the largest oil and gas company in Poland, engaged in the development of gas and oil fields, production, storage and transportation of energy resources, as well as construction and development of oil and gas transport networks, export and import of gas.