Today NJSC Naftogaz of Ukraine and JSC Ukrgasvydobuvannya signed a Memorandum of Understanding with Halliburton Ukraine LLC on deepening cooperation in providing oil and gas services for the development of hydrocarbon fields in Ukraine.
The document was signed by Andriy Kobolyev, Chief Executive Officer of the Naftogaz, Andrew Favorov, Member of the Board, Acting Chairman of the Board and Joe Rainey, President of Eastern Hemisphere at Halliburton.
Within the framework of the implementation of the Memorandum, Hallibarton and Ukrgasvydobuvannya plan to introduce to Ukrainian gas deposits the world’s leading technologies in the field of drilling, capital repairs of wells, cementing, hydraulic fracturing, production stimulation and 3D modelling. In addition, Halliburton will supply high-tech equipment and software to increase the volume of Ukrainian gas production in Ukrgasvydobuvannya deposits.
Within the framework of cooperation, UGV and Halliburton launch a new direction – providing integrated turnkey services for sidetracking in 26 wells. According to UGV forecast, such works will allow restoring wells from an idling well stock and getting over 2 billion cubic meters of additional production during 10 years. The total amount of contract for sidetracking services is UAH 2.6 billion.
Ukrgasvydobuvannya has successfully cooperated with Halliburton for more than 1.5 years. The companies signed an agreement for purchase of Halliburton-Landmark software products in November 2017 and a multiservice contract for purchase of drilling equipment rental, drill bits and engineering services etc. in March 2018. Such cooperation allowed UGV to increase its own technological level and increase the volume of Ukrainian gas production.
Naftogaz, UGV and Halliburton are convinced that strategic cooperation is extremely important for the development of the oil and gas service market in Ukraine and for achieving its energy independence.
Additional information
- 1. Naftogaz of Ukraine is one of the largest companies in Ukraine and a leading enterprise in the country’s fuel and energy complex. Naftogaz is a vertically integrated oil and gas company engaged in a full cycle of operations in the sphere of gas and oil field exploration and development, production and exploratory drilling, gas and oil transportation and storage.
- 2. Ukrgasvydobuvannya (UGV) is the largest gas production company in Ukraine, producing 75% of Ukrainian gas. The company’s sole shareholder is Naftogaz. UGV is a vertically integrated company engaged in a full cycle of operations from prospecting and exploration to development, production, transportation, processing of hydrocarbons, and sale of finished petroleum products.
- 3. Halliburton is the leading international service company, founded in 1919, providing a full range of state-of-the-art technologies and services to the oil and gas industry. This company operates in over 80 countries with more than 60,000 employees representing 140 nationalities. The company provides services and assists in maximizing the cost during the entire lifecycle of deposits: from locating hydrocarbons and field modelling to drilling, formation evaluation, construction, completion of well completion and production optimization.