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Ukraine's PJSC Ukrnafta promises more transparency, tighter control of investments

Ukraine's PJSC Ukrnafta promises more transparency, tighter control of investmentsPublic joint-stock company Ukrnafta intends to revise some joint operations projects.

This is reported by Interfax-Ukraine, citing Ukrnafta Head Mark Rollins.

"We are going to revise some joint operations agreement to better control the implementation of the investment program and distribute funds in a more transparent way," the press service said, citing him.

The company also said that negotiations with international companies on cooperation under new joint operations projects are being held. This could bring additional investment and modern technologies.

"The attraction of investment in three areas is being considered: exploration of fields (drilling of vertical and deflected wells, rat holes, horizontal wells with multi-stage hydraulic fracturing, water flooding, 3D seismic exploration works, modernization of gases draining-out networks at old wells), modernization of gas processing plants and upgrade of the drilling rig fleet," the press service said.

As reported, Naftogaz Ukrainy holds 50% plus one share in Ukrnafta, Privat Group holds about 42% of the shares.
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