Ukrgasvydobuvannya and MND Group will work on hydrocarbon exploration in the west of Ukraine

Ukrgasvydobuvannya and Czech MND signed a Memorandum of Understanding on potential cooperation in the field of geological exploration and hydrocarbon production in the areas in the west of Ukraine. This is a promising region, where the unlocking of the resource potential will help to stabilise the energy situation in Ukraine and improve the energy security of Europe.

MND has many years of experience in the production of hydrocarbons in the Czech Republic, and since 2014 has been engaged in exploration and production at five oil and gas fields in Ukraine. The companies plan to combine their knowledge of the Western Region to unleash the potential of under-explored areas.

"We continue to attract international partners to increase Ukrainian gas reserves, without waiting for the war to end. Moreover, in the context of russia's energy blackmail, this question acquires even greater relevance. I am confident that our cooperation with MND Group will ensure the development of new opportunities to reduce Europe's dependence on Russian energy carriers. The Carpathian region has been the focus of our activities earlier. Now it is one of the safest regions where we can launch new projects," Oleh Tolmachev, Director of the Naftogaz Exploration and Production Division, said.

"We are happy to support Ukraine in such a difficult period and join new projects on hydrocarbon production development. After all, the issue of Europe's energy security is something that our future depends on. Our Ukrainian division already has successful production projects in the Carpathian region. The experience of Ukrgasvydobuvannya's specialists who have been working in this region for over a decade will be valuable for the joint search for new production opportunities," Jana Hamrsmidova, Energy Division Director of MND Group said.

The companies signed the memorandum on October 7 in the Prague office of MND. From the side of Ukrgasvydobuvannya, the signatory was Maksym Vityk, director of strategic projects, from the side of MND – Jana Hamrsmidova.

About Ukrgasvydobuvannya Ukrgasvydobuvannya JSC is a Ukrainian company, part of the Naftogaz Group, the national oil and gas company of Ukraine. The company is the largest gas producer in Central and Eastern Europe and provides over 70% of natural gas production in Ukraine. Ukrgasvydobuvannya performs a full cycle of hydrocarbon production from the search and exploration of oil and gas fields to the development, production, processing of hydrocarbons, and sales of refined products.

About MND MND is part of the KKCG Group, which was founded by the Czech entrepreneur Karel Komárek. The company focuses on various areas within the energy sector – from oil and gas extraction to energy production from renewable resources, such as geothermal drills or wind power, with a particular emphasis on environmentally friendly technology. MND, also supplies Czech households with gas and electricity. In addition to the Czech Republic, the company also operates in Ukraine, Germany, and Italy.