Chairman of Ukrnafta’s Executive Board Mark Rollins took part in the Ukrainian Gas Investment Forum 2016 in Kiev. During the discussion on the perspectives of the gas market of Ukraine, Mark Rollins emphasized the need for increased competition, change in tax legislation, new technology and competency.

“I want as many new players on the gas market competing with me as possible. Those new players will bring new capital, but more important – new knowledge and competencies. I see a huge advantage in that, as competition promotes innovation. There is a lot of what we can bring into the equation, such as logistics and interaction capacities with local communities. However, we also need changes in legislation to make it easier for us to partner with other players effectively. It will benefit the whole industry and considerably accelerate the demand for more production in Ukraine”, Mr Rollins said. Nikolai Boyarkin, acting Head of the State Service of Geology and Mineral Resources of Ukraine confirmed that agrees with what Mr. Rollins has outlined and emphasized his readiness to ensuring transparent rules for all market players.

Answering the questions regarding the new strategy of the Ukrnafta development, Mr Rollins stressed: «Our new strategy envisages the increasing of oil (by 300%) and gas production (by 50%) over the next ten years, also increasing about three times the profitability. It may sound like an ambitious target, but it’s more of a conservative target. Up until now there was no track record of Ukrnafta producing a strong strategy, so it’s almost like a new process. We believe the strategy is good for Ukrnafta, Ukrainian oil and gas industry and for Ukraine so we proceed with our strategy as soon as we can".