KYIV, May 29 – Ukrgazvydobuvannia and Canada's Vermilion, which earlier submitted joint applications to participate in tenders to develop four fossil fuel fields under product sharing agreements (PSA), would equally invest in geological exploration and development of the fields and share equally profits if they win the tenders, Chairman of NJSC Naftogaz Ukrainy Executive Board Andriy Kobolev has said.

"When carrying out the work, we expect to maximize the use of services, drilling rigs, equipment and personnel of Ukrgazvydobuvannia, as well as other Ukrainian companies. Vermilion is ready to provide the latest and unique technologies of geological exploration, drilling, development, environmentally friendly technologies for the development of oil and gas fields," Kobolev wrote on his page in the Facebook social network.