Ukrgasvydobuvannya invested almost UAH 23 bln in hydrocarbon production in 2019

“JSC Ukrgasvydobuvannya, a subsidiary of Naftogaz of Ukraine, received UAH 104.4 billion from the sale of gas and liquid hydrocarbons in 2019. 60% of this amount, UAH 62.7 billion, was transferred to the state and local budgets as taxes and dividends to the shareholder. The company spent 22% of its cash income, or UAH 22.9 billion, on investments in the gas and liquid hydrocarbon production, which made it possible in 2019 to retain the performance previously achieved,” reads the report.

According to Ukrgasvydobuvannya’s financial statements, the company's net income for 2019 made up UAH 79 billion, which is at the level of the previous year. The company's net profit for 2019 amounted to UAH 19 billion.

"The decrease was caused by impairment losses on fixed assets, intangible assets and incomplete capital investments, as well as an increase in the cost of pipeline services due to the introduction at the legislative level of the mandatory fee for entry into the GTS," reads the statement.

In 2019, the company produced 13.62 billion cubic meters of commercial gas, which was sold to the pubic and heating companies.

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