From October 23 until 27, during the international energy forum Open Energy Week, the officials, politicians, energy experts, and investors have discussed the current state and the plans to develop the petroleum and energy industry of Ukraine.

Roman Opimakh, the Association's executive director, during his speech has stressed out the importance to pass several important initiatives to develop the industry and increase gas production.

• Firstly, it is the improvement of regulatory policy and passing the bill 3096-d.

"Currently we are observing a complicated situation: to enter the field into commercial development, one has to obtain 44 permits in 16 authorities, and it takes at least 3.5 years. Such a practice does not exist in the world, and 3096-d bill should resolve this issue. The whole industry is hoping that such an important initiative will be passed by the end of the year."

• Secondly, the tax regime for the industry does not stimulate the new investors to come, and is complicated.

"In the past 3 years, the royalty rates for the industry were amended several times – for gas production industry such frequent amendments are unacceptable. We are offering, and we have the support of the Government, to decrease the royalty rates gradually to average European levels, and this can be implemented by introducing a separate royalty rate on new wells."

• Thirdly, the industry needs transparent bidding and open geological information.

"We are working in this direction with the Ministry of Ecology, a corresponding bill is currently being developed. As it has been stated numerously, in the past year not a single auction was held, and due to this potential investors lack the fields for development."