Norwegian PGS under Naftogaz's order launched research on the Black Sea shelf

Naftogaz has started research on the bottom relief in the Black Sea. The study is conducted by the Norwegian Petroleum Geo-Services (PGS). Additionally, Naftogaz specialists have determined the points of a new well drilling on the Yuzivska area and candidates for re-entry on the PSA areas (production sharing agreements). This was announced by the Director of the Naftogaz Exploration and Production Division, Oleksandr Romanyuk, during the Ukrainian Energy Forum.

Recall that to develop its resource base, Naftogaz started exploration and development in strategic areas, access to which the Company obtained from the government. Thus, in March of this year, Naftogaz received special permits for 30 areas in the Black Sea. In December 2020 it acquired 100% of Nadra Yuzivska LLC, which is the owner of a license for the Yuzivska area, and signed production sharing agreements with the state for 4 new areas.

"We have developed accelerated plans for our strategic assets. Our goal is to reduce the new-areas exploration period to 2-3 years. For example, in the Ivanivska PSA area, we plan to see the first gas in 2022 due to wells re-entry. To implement strategic projects, we attract international partners and have already signed memoranda of understanding with some of them. However, the success of such cooperation depends on the support of the state. Certain regulatory issues need to be addressed. These are the incentive rent, procedural issues of PSA execution, and procurement simplification," Oleksandr Romanyuk said.

At the same time, on the new PSA areas, Naftogaz has started re-processing and reinterpretation of the old 2D seismic. For early 2022 re-entry of the previously drilled and new wells is planned. Preparations are currently ongoing for the 3D seismic acquisition.

Romanyuk recalled that at the base fields of Ukrgasvydobuvannya, unfortunately, a natural decline exceeding 5% compared to the last year is seen. Despite this, to maintain the production, the Company is constantly improving its skills in field intensification operations and has already performed 70 hydraulic fracturing operations, 124 workovers, and 30 side-tracking operations in the first half of 2021.

14:55 / 16 July 2021

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