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Ukraine struggles to attract upstream players

Kiev aims to be independent from gas imports by 2020, but the lack of interest in its latest licensing round shows the target may be too ambitious Kiev aims to be independent from gas imports by 2020, but the lack of interest in its latest licensing round shows the target may be too ambitious
By Silvia Favasuli 11 March 2019 Europe & Russia / Exploration & Production 0 34023
Naftogaz facilities in Ukraine. (Naftogaz)

A lack of interest from foreign oil and gas explorers in Ukraine’s latest upstream licensing round suggests Kiev’s plan to harness IOCs to boost domestic production is falling flat.

The State Geological Service of Ukraine managed to sell only three concession blocks out of 10 on offer in the round, which ended last week and is the first of three scheduled for 2019. The three blocks went to domestic players Burisma Group, DTEK Oil&Gas and state-owned Ukrgasvydobuvannya (UGV). The companies bought 20-year exploration and production licences...