DTEK Oil&Gas, the largest private gas production company in Ukraine, and Baker Hughes, a global energy technology company, have formalised an agreement to increase gas production and strengthen European energy security. The memorandum was signed during the annual CERAWeek event in Houston, Texas.
Ukraine holds approximately 1.1 trillion cubic metres of proven natural gas reserves, making it the second-largest reserve holder in Europe. The collaboration aims to accelerate the development of these substantial resources. Baker Hughes will bring cutting-edge solutions and global experience, while DTEK contributes its established presence, operational capabilities, and experience in deep drilling within Ukraine's oil and gas sector.
This strategic partnership builds upon a previously signed Master Services Agreement between DTEK Oil&Gas and Baker Hughes, which covers cooperation on directional drilling, drill bit services, and various high-tech service operations. By increasing domestic gas production, the collaboration will help unlock the full value of Ukraine's natural resource base.
The importance of this agreement extends beyond national borders. At a time when global trade routes are increasingly vulnerable to disruption, developing domestic energy resources within Europe is critical. Expanding Ukraine's domestic gas output supports national stability and contributes to broader European energy security by reducing dependence on exposed supply chains and long-distance imports.
This development echoes the strategic outlook shared by DTEK CEO Maxim Timchenko during his recent visit to Texas. Speaking to international allies and media outlets including Axios, he delivered a clear message: Ukraine is open for energy-related opportunities. Following the most difficult winter since independence, DTEK has acquired vital experience in safeguarding infrastructure and adapting operations during the ongoing war with russia. The company has formulated detailed security plans, secured essential equipment, and maintained operations under severe conditions.
DTEK Oil&Gas CEO Igor Shchurov noted that combining operational expertise with Baker Hughes' global capabilities will improve efficiency, expand the use of advanced technologies, and unlock further growth in gas production, ultimately strengthening the energy security of both Ukraine and Europe.
Tayo Akinokun, senior vice president of global geozones at Baker Hughes, affirmed their commitment to helping unlock new value for Ukraine's natural gas industry and ensuring opportunity and security for its people.
Rather than viewing the country solely as a risk zone, we encourage the global business community to adopt a pragmatic approach. Local companies have demonstrated their dedication by choosing to stay, operate, and invest during the war. Investing in Ukraine today is a direct investment in operational excellence and a secure, regionally-sourced energy future. We invite global partners to collaborate with us in rebuilding and strengthening the Ukrainian energy sector.
