DTEK Oil&Gas, Ukraine's leading private gas producer and part of our energy company DTEK, has signed a Memorandum of Understanding with Halliburton, one of the world's leading providers of products and services to the energy industry. The agreement begins cooperation to increase domestic gas production and strengthen the energy security of Ukraine and Europe. It brings together Halliburton's international expertise and DTEK Oil&Gas's local knowledge. The partnership supports Ukraine's recovery and Europe's move away from russian gas.
What have DTEK Oil&Gas and Halliburton agreed?
The two companies have signed a Memorandum of Understanding that follows earlier discussions between them. The document marks the beginning of cooperation aimed at strengthening Ukraine's energy security. It combines Halliburton's international expertise and leading technologies with DTEK Oil&Gas's local know-how to help increase gas production and strengthen the country's energy resilience.
What will the cooperation cover?
Areas of cooperation include the application of technologies for well completion, production stimulation, and software products for well design and drilling support, as well as other advanced technological solutions. Together, these are intended to make gas production in Ukraine more efficient and more technologically advanced.
Why does this matter for Ukraine and Europe?
Ukraine holds Europe's second largest natural gas reserves. As the continent ends its purchases of russian gas, new European supply will be essential for regional energy security. Increasing domestic production in Ukraine strengthens both the country's resilience during the war and the wider security of European energy supply.
How does this fit our wider strategy?
The partnership reflects the strategy of our shareholder Rinat Akhmetov to work with leading international technology companies in support of Ukraine's recovery and European security. Cooperation with global partners such as Halliburton brings modern technology and investment to Ukraine's energy sector at a time when it is most needed.
What did DTEK Oil&Gas say?
"DTEK Oil&Gas has always placed strong emphasis on adopting and deploying the latest technologies in its operations. I am confident that cooperation with Halliburton, built on its expertise, modern technologies and innovations, will enable us to become even more technologically advanced and efficient, while opening up new opportunities for the development of gas production in Ukraine. Today, as the country faces unprecedented challenges, increasing domestic gas production is key to strengthening the energy security of Ukraine and Europe," said Ihor Shchurov, Chief Executive Officer of DTEK Oil&Gas.
