Naftogaz Group invites potential partners for cooperation in PEC project
Information about project
UGV has invited oil & gas companies to cooperate and give their feedback on participation in gas production enhancement project.
The Company offered cooperation to those oil & gas companies which have modern technologies in production enhancement through conclusion of production enhancement contract (PEC) on production stimulation in gas field group.
Since such type of contract has never been concluded in Ukraine before, UGV is a pioneer, just as in a number of other areas of gas production market development. One or several contracts were expected to be concluded for a period of 10 (15) years with the possibility of prolongation for another 10 years.
The existing UGV gas fields were assessed according to the main indicators (current gas production volume, proven reserves, depths, IRR drilling, production/reserves ratio, liquid hydrocarbon reserves, etc.) and categorized by statistical methods into more or less homogeneous clusters, among which the ones most applicable for this particular form of cooperation for both Ukrgasvydobuvannya and the market have been selected.
Following the selection results, it is planned to conclude one or several PECs in gas field groups (clusters), with the development of the relevant surface facilities and preservation of Ukrgasvydobuvannya’s absolute ownership of assets, products and licenses.
The potential UGV partner or partners is expected to implement a significant investment program and perform hydrocarbon production enhancement operations on the mutually beneficial conditions.
PEC partnership project overview
PEC Pre-Qualification Criteria 2019
Ten Key Legal Aspects of Production Enhancement Contracts
Project News
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