Gassing About Ukraine

By Michelle Howard
Monday, June 02, 2014

Ukraine’s oil and gas production appears to have been largely unaffected by the ongoing crisis involving Russia’s annexation of Crimea and the uprising of pro-Russian separatists in the east of the country. Most of the Black Sea state’s producing gas fields are located away from the areas of unrest, therefore through geographical location have avoided disruption. However, Ukraine has lost control of its offshore deposits due to their location in Crimean waters – with the local authorities due to hand over producer Chernomornaftogaz to Russian state-player Gazprom. Douglas-Westwood (DW) predict this will lead to Ukraine losing out on approximately 117 million barrels equivalent of gas production over the next seven years. This would have seen 50 offshore well completions over the period.
 
DW’s current base case for Ukraine estimates onshore gas production will reach 335 kboe/d in 2020 – requiring around 40 wells completions a year  This assumes small-scale unconventional developments in the latter part of the decade which will reverse declining output. These will gradually ramp up over time, but it is unlikely significant output will be seen before next decade.
 
The current situation has highlighted the country’s need to wean itself off of Russian gas imports. Could Ukraine’s sizeable unconventional gas plays – which the EIA estimate at 24 Bnboe – provide the answer to this? Pressure from the void left by reduced Russian gas imports may see production reach over 400 kboe/d by the end of the decade, requiring gas well completions to rise 70% to 68, from 38 in 2013.
 

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

Energy

Statoil: New Oil in the Grane Area

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader,

Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

LNG

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

LNG America, Buffalo Marine to Design LNG Bunker Fuel Network

LNG America announced it has entered an agreement with Buffalo Marine Service, Inc. (Buffalo Marine) to cooperate on the design of an LNG bunker fuel network for the U.

News

USCG Reopens Port Allen Post Hurricane Ana

The Coast Guard Captain of the Port reopened Port Allen in Kauai Monday morning after surveying crews deemed it  safe for transit. The maritime public is advised

TRIYARDS Buys into Aluminium Shipbuilding Expertise

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added new capabilities, products

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

Government Update

India to Develop Iran's Chabahar Port

India will float a company to develop Iran's Chabahar Port, a government statement said on Saturday, as New Delhi aims to take advantage of a thaw in Tehran's relations with world powers.

Shadrin is D.G. of Gazprom Investholding

On October 13 the Gazprom leadership acceded to Alisher Usmanov's request for releasing him from his position as Director General of Gazprom Investholding. At the meeting Alexey Miller,

ITIC Measures against Ebola

The International Transport Intermediaries Club (ITIC) has issued the following general advice related to the outbreak of Ebola. Vessels that have recently

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1379 sec (7 req/sec)