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Oleksandr Romanyuk. RESULTS 2020


What was the last year for you?

This year turned out to be a difficult year, probably for everyone. The coronavirus pandemic, the economic crisis, the sharp drop in gas prices - all this largely affected the company's ability to invest in new projects.

But I am grateful to our employees that this year Naftogaz managed to complete the annual plan for gas production. We can already say that the company kept the figures at last year's level, the deviation will be minimal - up to 1%.
The operational safety is our priority, it should also be mentioned that the company reduced the number of injuries and avoided any death.
Moreover, 2020 was a starting point for us. During these months we created the Exploration and Production division, formed a strong, well-coordinated team of Ukrainian and international experts, created a strategy to increase the resource base and started its implementation.
This is the headstart that I am sure will give a positive result in the future.


What, in your opinion, should be done first to restore the industry and successfully move forward in the new environment?

Closer coordination of business and the state is required to raise new investments in gas production, in particular:

unblocking access to large promising oil and gas fields that have not been developed for many years

extension of incentive royalty rate for new wells for the first 5 years of their operation

setting of incentive royalty rate for hydrocarbon recovery from unconventional reservoirs and offshore areas

adoption of legislative changes to simplify access to land plots for exploration and access to existing wells

simplification for state-owned companies of purchasing goods, works and services necessary for geological exploration and development of fields


What do you consider the main achievement of the year? (Personal/your company’s)

In addition to the above-mentioned, 2020 was marked with several other major events that we consider our strategic victories.
In particular, a few weeks ago the Cabinet of Ministers provided Naftogaz with the right to explore the Black Sea shelf. This is a historic event, as it can get moving the issue, which has been "frozen" for many years. Should all official procedures are completed quickly, we will start offshore seismic exploration next year.
We also reached the finish line in the process of signing production sharing agreements for 4 promising areas. These are also the assets we place a large bet on.
In addition, we were first in Ukraine who launched a joint product enhancement contract (PEC) project with Expert Petroleum. The goal is to increase production from 13 old depleted fields in Western Ukraine.


What advice would you give to your colleagues? What will help businesses better adapt to changes?

We should keep moving even in "storm" conditions. It is required to clearly define business goals, form roadmaps and gradually move toward…even not as fast as we would like.
Efficiency is even more important at all levels. This is an unlimited reserve that should be used.
And, of course, the team. It is important to have people around you who share common goals and values, who are ready to take responsibility and work hard.


What are your goals for next year?

The most important thing is to start exploration work on new large strategic assets. We understand that their development is a guarantee of stabilization of gas production in Ukraine. So let us do our best to give results as soon as possible.

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