Strengthen management
In the first half of 2011, Ukrnafta replenished its senior management ranks with the hire of several world-class managers. The new team includes Ukrainian and international executives with a deep knowledge of the oil and gas industry and corporate management, all of whom have extensive experience working in Ukraine and the wider CIS region. They join a strong team of Ukrnafta managers with established roots at the company.
Vertically integrate
Ukrnafta owns a number of assets across the petrochemicals value chain in Ukraine. Our goal is to fill in the missing pieces and strengthen the synergies as through vertical integration.
Renew assets
Ukrnafta's oil and gas fields are quite mature, and in recent years investment in new wells has declined. We are now beginning a process of stabilizing production levels and stimulating exploration. Other companies operating in the region have already demonstrated considerable upside for similar assets through the application of new technologies and modern operational management practices. In addition, we intend to renew our assets in all spheres of the business – from drilling to production to processing to retail.
Generate efficiencies
Across the business we are working to generate efficiencies – from improving technology to spinning off non-core assets to eliminating unnecessary layers of management. This process will result in a far more focused company and stronger financial results.
Modernize the corporate culture
We are working to strengthen corporate culture at Ukrnafta. This means infusing our new core values of excellence, efficiency, transparency and social responsibility in everything we do.
Regional expansion
We believe that Ukrnafta provides for a unique platform for investment in the Ukrainian value chain. However, the company can also play a prominent role in regional consolidation in the sector.