Russia's Atomenergomash and Ukraine's Turboatom may create a nuclear joint venture, Russia's nuclear chief Sergei Kiriyenko said on Friday.

When asked how cooperation in the nuclear sphere between Russia and Ukraine could be created, Kiriyenko said that "one of the versions is the creation of a joint venture" and added that the "configuration could be much broader."

Earlier on Monday, Ukraine's President Viktor Yanukovych said the country needs nuclear power as its main energy source while the nuclear arsenal should be abandoned to prevent risks of a possible nuclear disaster.

"Ukraine was the first to feel and realize the danger originated from the peaceful use of atomic energy and it was, perhaps, one of the reasons for our country to voluntary give up its nuclear weapons," Yanukovych said on Monday, on the 24th anniversary of the Chernobyl nuclear disaster.

Kiriyenko, who heads Rosatom, said that if a 25-year contract on the delivery of nuclear fuel is signed, Ukraine could receive a total of some $1 billion in discounts, adding: "The longer the contract, the bigger the discount."

Kiriyenko said the contracts terms of between 15 and 25 years are under discussion.

Russia's nuclear chief also announced Russia is likely to invest up to $500 million for the development of the Novokonstantinovsk uranium field in central Ukraine.

"It is not developed yet and will require a lot of money. According to our estimates, up to $500 million is needed to mine it," Kiriyenko said.

According to Kiriyenko, the development of the field may start soon. The estimated reserves of Novokonstantinovsk uranium field are around 100,000 TEF (tons of equivalent fuel).

Kiriyenko said Russia is not making any claims on the field's development as it has enough uranium reserves.