2019 became a significant year for the domestic gas producing industry.
For the first time in years, Ukraine conducted O&G auctions and production sharing agreement tenders. 42 blocks with a total area of 29,000 sq.km were offered for the O&G licensing rounds.
Association of Gas Producers of Ukraine actively supported holding of licensing rounds and promoted them internationally. During the year, 5 550 users visited our English platform, which presented the prospects of investment into O&G industry in Ukraine.
Transparent online bidding caused a stir at domestic market and drew international companies’ attention. Our country successfully attracted three foreign investors, among them: Canadian company Vermilion Energy, American Aspect Energy and Slovakian Nafta RV.
Worldwide experts also expressed an interest regarding domestic gas production. Our country was for the first time included in the world-renowned index Baker Hughes Rig Count and instantly took the lead in Europe in terms of the number of active drilling rigs.
In 2020, the industry faces new challenges. Stable fiscal policy, equal rules of participation, continuation of holding auctions and tenders, and modernization of the Subsoil Code of Ukraine according to the best world practices are the key factors for attracting new players to E&P sector.