Companies / Ukraine
Ukraine To Spend US$1.8bn To Boost Production
November 2006 | Industry NewsUkraine plans to spend up to US$1.8bn between now and 2016 to increase production of oil and natural gas. Currently Ukraine relies on imported energy to meet around 80% of its needs and the country is keen to boost domestic production in order to reduce this dependency. Following a dispute with Russia over gas pricing in January, Ukraine has recognised the necessity of urgent action to reduce reliance on imports from Russian gas monopoly Gazprom. Now the country plans to invest in gas and oil extraction in Libya, Egypt and the Black Sea with international oil companies (IOCs) as part
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