Americans insure the company from the Ukrainian political risks: oil and gas week

The tender for the supply of gas for the needs of “Ukrtransgaz” has been completed. In the end, we have identified five suppliers of “Naftogaz”, LLC “Era trading” Trafigura Ukraine, LLC “Hattalova company”, LLC “energy service company “Esko-Pivnich”. “Naftogaz of Ukraine” will carry out deliveries on three lots totaling 4.12 billion UAH, and the rest of the company — one lot worth from 1.29 billion UAH. to 1.35 billion. In “Ukrtransgaz” talking about the plans to hold another tender in the autumn, where the expected significant increase in the number of participating companies.

American investor “Energy resources of Ukraine” (Energy Resources of Ukraine), whose subsidiary company “Era trading” also won the tender for the supply of gas to UTG, plans to strengthen its position on the Ukrainian gas market. This, in particular, shows the message of the company on conclusion of the insurance policy to protect against political risks. The lease period is 20 years. Insures risks of the American state Agency Overseas Private Investment Corporation (OPIC). According to the Director of the Corporation ERU Dale Perry, the main flow of investments in the amount of $ 70 million will focus on the development energokabel in Ukraine, as well as on the fertilizer market.

The possibility of political risk insurance is a good incentive to attract new entrants to the gas market and generally for economic development. While this opportunity was used mostly by foreign investors.

After the autumn of last year disputes on the control of the operator of the Ukrainian GTS and after internal independent audit of the company, the management Board and the Supervisory Board of the NJSC “Naftogaz of Ukraine” initiated the resignation of the head of “Ukrtransgaz” Igor Prokopov. However, last week the former head of the UTG got a new position — Deputy Minister in the Ministry.

In the “Ukrgazvydobuvannia” was named the winner of the tender for drilling by the scheme 2+2+2 — is a company from Poltava, OOO “Spetsmekhservis”. The contract amount of 397,422 million. Drilling activity is planned in Kharkiv and Poltava regions for the period from 2017 to 2019.

One of the units UGD “Poltavagazdobycha” reports about the plans for the commissioning of 26 new wells by the end of this year. In the first quarter, the company has mastered the six wells and revived seven previously dormant. This is largely made possible through the use of modern coiled tubing technology. The total production rate of new wells is expected to reach two million cubic meters of gas. About the commissioning of the five additional wells at gas condensate fields and reports “shebelinkagazdobycha”. This will increase the output by 105 thousand cubic meters of gas.

Continues the execution of works by the winners of last year’s tender of the subsidiary on the implementation of hydraulic fracturing. “Belorusneft” reported 29 completed operations under the contract 50.

Procurement services is part of wider strategy of the subsidiary. The program of reforming of the company in 2015 is supported by the U.S. Department of state. In the middle of last week, the U.S. Ambassador to Ukraine, Marie Yovanovitch visited a number of objects of the enterprise, and expressed willingness to discuss further cooperation between the Ukrainian state-owned companies with American investors in the areas of drilling and service work. According to the head of the subsidiary of Oleg Prokhorenko, such a relationship will allow state-owned companies to reach the international standards of quality in the work. Already, the company adopted a system of motivating personnel assessment.

For the repayment of existing debt “Ukrnafta” plan to implement part of the property of the company. Despite the decline in oil production in Ukraine by 5% in the first quarter of this year, “Ukrnafta” carry out a technical update. In particular, the press service announced the completion of tenders for the purchase of pumping equipment.

Inna Kucherenko, expert oil and gas market