The State Geological Service of Ukraine released 30 onshore petroleum blocks for sale in online auctions at the public trading platform ProZorro.Sale. The concession blocks will be auctioned in a series of licensing rounds.
In the first round, announced on December 6, 2018, ten blocks were offered in six regions, covering over 1 120 sq. miles. Bidders have 90 calendar days to decide and submit their applications and the online auctions will take place on March, 6, 2019.
Two weeks later the Ukrainian government has approved the Production Sharing Agreements (PSA) tender terms for 12 onshore blocks with total acreage of over 8 200 sq. miles. The bids should be submitted during 90 days, after the terms will be officially published by the Interagency Commission.
In total, Ukraine has opened the 2019 licensing rounds offering 42 onshore blocks with acreage of nearly 12 000 sq. miles. More information could be downloaded here www.GOukraineNOW.com
On top of that, there is the opportunity to maximize the value of legacy fields through their redevelopment.
The state-owned UGV has been signed the services deals with leading international oil-field service companies – Schlumberger, Halliburton, and Baker Hughes – and it is seeking further partnership for cooperation under the Production Enhancement Contracts (PEC) for development of its depleted mature brownfields and unconventional formations.
The PEC tenders have been launched by UGV recently and its results are expected to be announced in March, 2019 in line with pre-qualification procedure. More information could be downloaded here http://ugv.com.ua/en/page/ukrgazvidobuvanna-anonsuvalo-pilotnij-proekt-res-z-intensifikacii-vidobutku-na-zrilih-i-visnazenih-rodovisah.
With this in view, it is great pleasure to invite potential foreign investors to look on oil and gas licensing rounds opportunities in Ukraine.
This and many more industry trends will be the subject of detailed analysis and discussions at the forthcoming energy conferences in London (Ukrainian Gas E&P Forum, www.strategy-council.com/en/events/the-ukrainian-gas-ep-forum) and in Kyiv (Ukrainian Energy Forum - www.ukrainianenergy.com/page/agenda), which are scheduled to take place on 29 of January and 26-27th of February 2019, respectively.