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Ukraine may attract a Canadian company to develop gas fields

Ukraine

Instead of the American Chevron, the Canadian Tenaz Energy Corp. may become a partner of NJSC Nedra Ukrainy for the implementation of the PSA on the Oleskoye hydrocarbon block.

Ukraine may attract a Canadian company to develop gas fields
Фото: пресс-служба Госгеонедр Украины

The head of the State Service of Geology and Subsoil of Ukraine spoke with the executive director of the Canadian Tenaz Energy Corp. Anthony Marino. The meeting took place at the initiative of representatives of an international company and took place in Kiev.

Roman Opimakh spoke about existing proposals in the field of hydrocarbon development in Ukraine, as well as possible ways to implement business projects.

“The service prepared and published 50 objects with oil and gas deposits in the Investment Atlas of a subsoil user for an exhibition for electronic trading. This is more than 6,000 square kilometers throughout Ukraine, including areas with approved reserves and green fields. You can get the right to exploration and development by purchasing special permits at electronic auctions, which the Service regularly conducts on the Prozorro platform. Sales, ”said Roman Opimakh.

The Head of the Service told the investor about the possibility of joining the already existing projects for subsoil use "farm-in". The condition is the acquisition of a share in the company that is the licensee. Such a mechanism can be of interest to enterprises that are experiencing difficulties in unlocking the full potential of facilities due to lack of funds and technologies, and an international partner can offer their capital and experience.

As the executive director of Tenaz Energy Corp. noted, the company is interested in the implementation of projects for the development of hydrocarbon subsoil areas in Ukraine. Particular attention is paid to facilities where production was suspended due to a sharp drop in production from wells that are currently not being developed.

Anthony Marino praised the progressive approach to providing access to geological information presented on the State Geological Portal. This data format is convenient for conducting a comprehensive analysis when making an investment decision.

Roman Opimakh noted that NJSC Nedra Ukrainy is looking for a partner to implement the PSA at the Oleskoye area.

“Ukraine is interested in attracting foreign investment in the development of Ukrainian subsoil. Since the withdrawal of the American company Chevron from the project, the agreement on the Oleskoye block has not entered into force, - informed Roman Opimakh. “Its area is 6,300 square kilometers, the gas resources of unconventional reservoirs are estimated at three trillion cubic meters, the license is valid until 2063."

Help:

Tenaz Energy Corp. Is a public company engaged in the acquisition of oil and gas assets around the world through mergers and acquisitions in order to create an efficient upstream business. Tenaz Energy Corp. has completed operations to acquire assets worth more than $ 6 billion and has experience in 65 countries. The company develops hydrocarbons in Central Alberta (Canada) and focuses on the markets of Europe, the Middle East, South America and North Africa.

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