We participated on-line in Odesa Offshore Conference 2021 (Expro Gas&Oil), which took place 23-24 September in Odessa.

We participated on-line in Odesa Offshore Conference 2021 (Expro Gas&Oil), which took place 23-24 September in Odessa.

Conference discussion subject was production reducing causes, and ways of its prompt enhancement. In particular, Naftogaz of Ukraine NJSC Exploration and Production division see the way of current problems solvation in new fields development, including Black Sea shelf (but without powerful international partners involvement shelf production is impossible), for operations on the old fields do not allow set off decline. Focus area is on the horizontal drilling, multiple drilling and fracturing. It also has been noticed, that Ukrainian service companies are more attractive in costs and works performance efficiency comparing with foreign companies.   

DTEK Oil&Gas see the way of production processes enhancement in Production Sharing Agreements (PSA): they can become more efficient methodology than licenses auctioneering; but in this case range of amendments in Ukrainian legislation should be made. In case of such amendments are carried out, DTEK estimates to invest 44,6 $mln into fields development, including seismic surveys, data interpretation and drilling of 2-3 wells. 

In general Ukraine continues looking for production enhancement ways, although in Europe such discussions are taking a back seat: most European companies already have realized cases of transfer to “green energy”.

But according to company BP investigation during next 30 years up to 2050 natural gas production investments will reach 9 to 20 US dollars trillion; it proves that currently gas is energy transition fuel, and transfer to “green energy” without it is impossible.

Currently gas price hit an all-time high, and there is no reason for its sharp decrease. Gas cost situation stimulates production enhancement, but it is impossible without new wells drilling; that causes positive situation for production and service companies work.

We thank the event hosts for provided possibility to get acquainted with up-to-date speeches of participants.