Natural Gas Strategy Development - Ukraine

We implemented the development of a Natural Gas Strategy for the Ukraine designed to assess potential for self-sufficiency. As a first stage in the strategy implemented an overall natural gas resource assessment on the country’s main sedimentary basins: Dnieper-Donets, North Carpathian and North Black Sea-Crimea; also implemented an assessment of the Ukraine’s Deep Water Section of the Black Sea. Conventional and Unconventional – tight gas, shale gas and coal bed methane – resources were assessed. On completion of the resource assessment, we assessed on a conservative basis the production that might be technically possible from each defined resource. We also estimated the investment needed to explore and develop each resource and the returns that might accrue to investors under the commercial terms associated with the Ukraine’s current licensing system.

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