Naftogaz Group to receive €36.4 million from EBRD to upgrade drilling fleet

Naftogaz Group’s upstream subsidiary, Ukrgasvydobuvannya, will receive a €36.4 million loan from the European Bank for Reconstruction and Development to modernize its drilling equipment, CEO Sergii Koretskyi announced .

The funding will be used to purchase new mobile drilling rigs with lifting capacities of 125 and 180 tons. This will significantly expand the company’s ability to perform complex workovers, particularly at greater depths.

Upgrading our fleet will enable us to operate on deeper and more technically challenging wells, while also making it possible to accelerate the restoration of production at existing sites, ensuring stable gas supply for Ukraine," Koretskyi commented. "We appreciate the EBRD’s continued trust and support, as well as the professionalism of our team in securing this agreement."

Most of Ukrgasvydobuvannya’s rigs are currently limited to an 80-ton lifting capacity, falling short of the requirements for many of the country’s mature and deeper wells. The new equipment will help close that gap and bolster Ukraine’s energy resilience.

Boosting domestic gas production was one of the key goals set by the Ukrainian government following Koretskyi's appointment as CEO of Naftogaz Group in spring 2025.

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