KYIV, July 20 – Ukraine should extend the incentive rates of royalty in the oil and gas industry to attract investment, Otto Waterlander, the Chief Operating Officer and the Chief Transformation Officer at Naftogaz Group, has stated.

"We propose considering the positive results of the stimulating royalty for the oil and gas industry and extend it from five to 10 years. Thanks to the introduction of incentive taxation, almost 200 wells have been drilled, of which private producers account for a third, they provided over 1.4 billion cubic meters of gas. This effect should also be applied in production of oil and gas condensate through the introduction of incentive royalty rates at the level of 6-12%," he wrote in a column for the website of the Interfax-Ukraine agency.