Naftogaz and Baker Hughes, a global energy technology company, have signed a strategic memorandum of understanding (MoU) to explore opportunities to strengthen and modernise Ukraine’s energy sector. The signing took place during the Ukraine Recovery Conference in Rome on July 10th.

Through the agreement, the companies will explore new technical, operational, and commercial opportunities in key energy sectors, including oil and gas extraction, transportation, storage and processing, as well as geothermal projects, carbon capture technologies, and electricity generation. 

"Naftogaz Group is building collaboration frameworks that help Ukraine overcome wartime challenges, implement modern energy solutions, and strengthen energy independence. Baker Hughes has global expertise across the energy value chain, and we see great potential in this cooperation,” said Sergii Koretskyi, Chief Executive Officer of Naftogaz. 

Key areas of cooperation outlined in the memorandum include: 

• Services and equipment for drilling and well construction 
• Emission reduction solutions, carbon capture projects, hydrogen and geothermal energy 
• Digital services, automation and analytics 
• Equipment for subsurface operations and production processes 
• Software for asset management and drilling optimization.

KeyFacts Energy: Naftogaz Ukraine country profile   l   KeyFacts Energy Industry Directory: Baker Hughes