KIEV, May 15 ??“ UkrGazVydobuvannya, Ukraine??™s largest natural gas producer, plans to invest about $118 million in modernization of its oil and gas refinery Shebelinka GPP over the next three years, the company said Tuesday.

The company plans to invest $13 million in the refinery??™s modernization in 2007, while the major investments will be made in 2008-2009, according to the company.