international magazine
11 / 2006

The Black sea breeze

The global upstream expands offshore. The majors and independent producers alike try to fetch a block or two in the prospective offshore production zones. Rolling up the sleeves, with zeal and gaining valuable experience, Azerbaijan, Kazakhstan and Russia develop offshore projects. Though Ukraine is also a member of the marine club (access to the Azov and the Black Seas), the country's oil&gas industry has long been in the shadows of the offshore development. In this country, exploration and production has been done almost on the leftover principle — in spite of receiving from the soviet Neftegazprom the Crimea oil&gas offshore production base, the largely unique and the first in the former USSR such unit. This passive approach is particularly absurd on the background of country's deep «habit» of hydrocarbons' export. The new Ukraine's minister of fuel and energy Yuri Boiko is now setting the record straight; state-owned oil&gas producer Naftogaz Ukrainy, and its subsidiary Chornomornaftogaz, with support of the ministry have already drafted strategic priorities and business approach to the offshore development.