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.
A separate MoU was also signed between Baker Hughes and JSC 'Ukrtransgaz', a member of Naftogaz Group, to discuss and assess the potential to leverage Baker Hughes’ gas technology equipment portfolio for projects in Ukraine in underground gas storage, and power generation.
'Baker Hughes is committed to supporting Naftogaz Group and companies in Ukraine with its energy technology solutions portfolio and expertise. The ultimate goal of our companies is to contribute to the energy security and decarbonisation of Ukraine’s energy sector and support the eventual reconstruction of the country’s economy through reliable and modern energy solutions. We welcome the opportunity offered by the Italian and the Ukrainian governments to be part of the Ukraine Recovery Conference 2025, and to reinforce our company’s commitment to Ukraine based on decades of doing business in the country,' said Paolo Noccioni, President, Nuovo Pignone, Baker Hughes.
Source: Naftogaz
