OREANDA-NEWS. April 14, 2011. Funds received from the increase in gas tariffs for the population, invested in increasing gas production in Ukraine. In 2011 on field development in the Azov and Black Seas will be spent around 1.2 billion. The Minister of Energy and Coal Industry of Ukraine Yuriy Boyko told in the interview to newspaper “The Day”.

According to Yuriy Boyko, the above funds will be invested in the production of hydrocarbons in Subotynske, Shtormove and Odessa field. This allows increase gas production in Ukraine and provides consumers with gas domestic production.

"Additional funds from the increase in gas tariffs for the population will be focused on increasing gas production in our country. Approximately 1.2 billion UAH this year will be spent on exploration licenses owned by the state - in the Azov and Black Seas. This Subotynske, Shtormove and Odessa - all fields which, in our view, provided an additional investment of money given the amount of gas and will provide our customers, our gas, and not overpay for import ", - the Minister of Energy and Coal Industry of Ukraine said.

According to Yuriy Boyko in autumn 2011 modern drilling platform that “Naftogaz Ukraine” bought in Singapore arrives on Subotynske field.

"Naftogaz Ukraine" bought the most modern drilling platform in Singapore. In the autumn it will be delivered on Subotynske field in the Black Sea "- said the Minister.

Yuriy Boyko confident in perspective tasks of the President of Ukraine Viktor Yanukovich on the maximum reduction of Ukraine's dependence on imported energy in next 5 years.

"I am convinced that the task put by the President - to minimize the procurement of imported energy in next 5 years, we will perform, and in due time. I see progress in addressing this issue"- the Minister of Energy and Coal Industry of Ukraine said.