Ukrgasvydobuvannya starts talks with Romanian, Chinese companies on signing PECs

Ukrgasvydobuvannya starts talks with Romanian, Chinese companies on signing PECs

Ukrinform
Ukrgasvydobuvannya gas production company has started talks with Romanian and Chinese companies on conclusion of a production enhancement contract (PEC) for two groups of depleted fields in western region.

“JSC Ukrgasvydobuvannya has completed the first round of competition for the conclusion of contracts for increasing production in two groups (clusters) of gas fields in western region. After considering the proposals, it was decided to hold commercial talks with two participants: Romania’s Expert Petroleum Solutions SRL and China’s consortium of companies XinJiang Beiken Energy Engineering and Zhongshi Shengli Oil Engineering,” Ukrgasvydobuvannya press service reports.

Within the next month, the Ukrgasvydobuvannya experts will discuss with participants the future production and investment programs with a focus on environmental and occupational safety issues. Afterwards, the company will determine the winner for each group of fields. The works on the fields are planned to begin in the first half of 2020.

“Our goal is to increase the volume of commercial gas but most Ukrainian gas fields are depleted. This is especially true in the western region. That is why we decided to involve partners and started the PEC competition. Additional investments, technical and managerial expertise, the latest intensification technologies will make it possible to increase the efficiency of extraction of residual reserves of depleted fields, which are still considerable,” said first deputy chairman of Ukrgasvydobuvannya board Oleksandr Romaniuk.

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