On September 15, Ukrnafta’s Trade Union representatives have picketed the company’s headquarters, demanding to increase salaries for the workers, to guarantee full-time employment and to prevent large lay-offs. Ukrnafta’s Management initiated open dialogue with participants of the gathering and explained the vision for company development.

Despite difficult circumstances, the top management of Ukrnafta is aiming for production renewal, economic development and stable operations, while improving working conditions for all its team members.

The Management Board of Ukrnafta is especially focused on remuneration of the Company’s employees.  Average monthly salary in the first half of 2016 has increased by 12.1% compared to the same period in 2015. Remuneration of employees is carried out in accordance with Ukrainian legislation and the Collective Agreement. The guarantees, set out in the Collective Agreement, are being fulfilled, remuneration payments are being made in due time prescribed by the Collective Agreement, there have been no arrears of salaries so far. Employees receive bonuses for execution of production tasks and functions. The Company allocates material aids for treatment of employees, extra payments and personal allowances as prescribed by the Collective Agreement.  Special bonus was paid to all employees to celebrate Oil and Gas Industry professional holiday. In October, the annual bonus for production performance in 2015 will be paid to the workers.

The Management Board considers transformation and reform of the company a key priority to create an economically viable and competitive business in the future.

The Management Board is developing measures to increase the salaries of the employees as part of this transformation process. It is also designing a modern personnel motivation system and taking measures to ensure the proper remuneration for effective work, depending on labor contribution of employees.

 Mark Rollins, CEO of Ukrnafta, states:

“We need to be realistic, understanding that our today’s goal is a strong company, so we cannot yet increase salaries without dialog with the trade unions. The company needs reforms and further organizational optimization. We do everything possible to fulfill our obligations towards our workers, following Ukrainian legislation and collective agreement. The management of Ukrnafta recognizes the trade unions of the Company’s employees as social partners, does its best to establish a constructive dialogue, and is ready to cooperate to find ways to overcome the current difficult situation in the Company and to solve the issue of further stabilization and efficiency improvement of the Company”.

As reported, earlier this year the Management of Ukrnafta proposed effective mechanism for financial rehabilitation of the company, promoting decision for out-of-court sanation, envisioning repayment plan of the debts to all its creditors.

For more information please contact press office: +38 044 239 14 93