Mykhailo Bakunenko, Chairman of the Board of PrJSC MC Ukrnaftoburinnya, has been recognized as one of the best CEOs of Ukraine by Forbes Ukraine magazine. The editorial team of the magazine selected 25 best Ukrainian CEOs who were able to successfully lead their companies through the challenges of 2020.

Key conditions for participation in the ranking:

  • The CEO has been leading the company for at least three years;
  • has a high level of independence in making management decisions;
  • does not own a stake in the company of more than 25%;
  • the company's annual revenue is at least UAH 5 billion.

The rating on a 100-point scale was based on criteria such as revenue growth dynamics, net profitability, as well as professionalism and leadership.

Mikhail Bakunenko has been managing UNB for 5 years. Under his leadership, the company has reached a completely new level and demonstrated tremendous growth.

  • During this time, the company has tripled gas production, drilled 13 new wells, and commissioned a modern propane refrigeration unit. According to the results of 2020, UNB's production volume will amount to about 720 million m3, and the total production volume of the Sakhalin field will be about 840 million m3.
  • To improve drilling efficiency, UNB cooperates with the best international equipment suppliers. Rational investments in drilling, workovers and field infrastructure have allowed UNB to increase production annually since 2016 and fully meet its financial obligations to the state, local communities and partners.
  • The company is among the TOP-3 private gas producers in Ukraine. In 2019, the company also entered the TOP-20 largest companies in Ukraine in terms of taxes paid.
  • Despite all the challenges of 2020 and the forced reduction in investments, the company managed to keep its production performance at the same level, focusing on maintaining and intensifying production from existing wells. In addition, in 2020, the company significantly strengthened its geological and technical team and attracted international professionals.

"It is very valuable for UNB and for me personally that our work has been highly appreciated. We really managed to assemble the best team of oil and gas specialists, we use the most efficient drilling techniques and get excellent production results. This year, due to the pandemic, our company had to face unprecedented challenges. The investment attractiveness of the entire industry has been jeopardized. Maintaining the position of the leader in private hydrocarbon production costs UNB a lot of effort. Therefore, the rating recognition is a merit of the entire team."

- commented Mykhailo Bakunenko, Chairman of the Management Board of PrJSC MC Ukrnaftoburinnya.