Oil and gas reserves in Ukraine and an increase in their production are the foundation for Ukraine to shed its energy dependence, Ukrainian President Viktor Yanukovych said at the beginning of a meeting with President of Chevron Eurasia Europe & Middle East Exploration & Production Company for Chevron Corp James Johnson on Wednesday.

"They are subject to commercial exploitation and, most importantly, they create the conditions for Ukraine’s gradual withdrawal from energy dependence and promote the diversification of supply sources," the presidential press service quoted him, Interfax informs.

Yanukovych stressed that in recent years Ukraine had made significant efforts to develop the oil and gas industry, increase domestic oil and gas production and develop cooperation with leading international companies.

"I am pleased that our partnership is gradually acquiring practical importance," he said.

Johnson, in turn, thanked Yanukovych and the Ukrainian government for the development of effective cooperation in the field of energy production.

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