A National Oil and Gas Asset and Exploration & Production Database for Ukraine is a Critical Infrastructure element to attract Investors
In order to Ukraine to attract Investors and companies to assist them in the efforts of exploring and producing oil and gas, several steps need to be taken.
One of the most important steps is to make the Energy Sector more transparent to the global players within the oil and gas industry.
There are certainly other steps in this process, such as regulations, laws and fiscal regime that needs to be focused at. However, given that there are large enough opportunities, there will be an international interest, and will give Ukraine more and better cards to play with to close deals in the future.
Ukraine needs to look into how they form partnerships in the future. Not only look at the immediate income of a project, but to look at the long-term opportunity to harvest profits, in several areas.
Ukraine has a large and prominent academic base to take from, and its intellectual base provide Ukraine with a large potential to create a domestic governmental agency to form its future Strategy for oil and gas.
Ukraine also host several industry segments that will benefit from more coordinated oil and gas efforts guided by a national strategy that is sound and transparent to the investors. Rig and pipeline construction and the iron industry cries for more activities apart from its export potential.
In this article the author will touch mostly into the creation of a National Data Center (NDC)/ National E&P Data Bank (NDB), to host and promote Ukraine potential. However, several other activities are touched as well, and should not be seen as less important, although not discussed in details here. These topics should be addressed as equally important.
Ukraine suffers from lack of transparency within the Energy sector today. If Ukraine is to attract serious international and national investors to participate in developing Ukraine’s diversified resources within oil and gas, there is a need to modernize and make the energy sector more transparent on its way.
Encouraging trust and open up the landscape so the investors and government together can resolve the challenges ahead for Ukraine, is the only viable way forward.
Ukraine does not have the economic powers to take upon itself all the challenges ahead within oil and gas industry. Not only is the conventional oil and gas prospecting an effort to take into account. Lately, the focus on Coal Bed Methane and Shale Gas has made new opportunities and challenges to Ukraine.
One major effort that needs to be focused on, by the Ukraine authorities are the establishment of a National Data Center for oil and gas resources.
This effort has proven to give a nation more attention, and more credibility as it promotes in a more transparent way the potential in a nation’s resources.
Therefore we propose that the government of Ukraine put more focus and attention to make a Joint Venture …