NAFTA confirms its interest in East Ukraine project

NAFTA a.s. and EPPE Power Europe (EPPE) are jointly developing Yuzivska under terms the Ukrainian Government has endorsed. Both companies are members of Energetický a průmyslový holding (EPH) and the Interdepartmental Commission at the Ukrainian Ministry of Energy has approved them as investors capable of meeting the technical and financial conditions for developing Yuzivska.

NAFTA will be acting as the technical operator in the project, utilizing its more than 105 years of experience exploration and production of hydrocarbons as well as the unique know-how it has long gained from many previous projects in key areas. In addition, NAFTA has been active in Ukraine since 2016, where it and its partners are jointly developing the Uzhhorod license.

“EPH has shown continued interest in the Yuzivska project and is ready to take the reins in investing into it under the approved Production Sharing Agreement, while our subsidiary company EP Yuzivska is prepared to sign the PSA approved by the Ukrainian government, issue a guarantee of the financial resources necessary to implement Yuzivska and swiftly develop it once an agreement has been reached,” said a source at the energy group and adding, “Having mapped out the details, we are ready to guarantee early hydrocarbon production for Ukraine.”

Yuzivska is the greenfield project connected with high geological risk and requires extensive exploration phase. However, we believe that by implementing our know-how, experience and methods, we will be able to develop potential of the license,” said NAFTA’s CEO. “And we are ready in this project to allocate our Ukrainian capacity to fully develop it and enhance Ukraine’s energy independence.”

NAFTA is an international company with extensive experience in natural gas storage and underground facility development in Slovakia, and is also Slovakia’s leader in exploration and production of hydrocarbons. The company is active in the countries of Central Europe, aside from Slovakia it also operates in the Czech Republic, Germany, Austria and Ukraine. NAFTA operates underground gas storage facilities in several countries as it explores and participates in energy storage and renewable resource projects. With a storage capacity of approximately 60 TWh, NAFTA is currently the sixth largest gas storage facility operator in Europe.