The domestic gas-producing industry is able to offer foreign partners various objects for investment and attractive conditions for successful work. Prepared investment research "Ukraine: Natural Gas Production. Playbook 2018" is a guide for potential investors, which main goal is to acquaint with the gas extraction industry and the opportunities that can be implemented in the sector.

The research argues that the first priority is more efficient development of 19 large and almost 370 small fields, most of which are concentrated in the Dnipro-Donets Foredeep. Another potential direction is the opening of new fields and the development of unconventional deposits of natural gas, which requires conducting of 3D seismic and the use of hi-end technologies for deep-well drilling and various intensification of extraction.

"In addition to various objects for investment, Ukraine has all the conditions for successful work - sufficient gas reserves, extensive infrastructure and an attractive market price. We have a well-developed market of E&P services and established the production of the main types of goods used in the industry. We have a clear message from the authorities that domestic gas production is a strategic priority for the state, which is confirmed by the reforms that have been carried out. We thoroughly analyzed these key points in our investment research, which should be useful to foreign partners, who are unfamiliar with Ukrainian gas production and should convince potential investors to come to the industry ", - noted Roman Opimakh, Executive Director of the Association of Gas Producers of Ukraine, during the presentation of the investment research "Ukraine: Natural Gas Production. Playbook 2018".

"International companies are of a great interest both in direct investments in gas production and in the services sector that provide operation of the industry. Transparent tenders, stable and understandable regulatory environment and competitive fiscal regime will allow to involve international players in the industry and increase the volume of gas production in Ukraine", - said Yulia Kovaliv, Head of the Office of the National Investment Council under the President of Ukraine.

A clear and flexible legal framework for cooperation in gas production is one of the main factors that can attract investors with different inquiries.

"Ukraine offers several forms for investing in the development of subsoil and the entry of new players into the market - either through standard corporate acquisitions or by entering into new investment agreements or service contracts. Potential investors are interested in product-sharing agreements, traditional licenses for the use of subsoil or obtaining certain existing companies with licenses, which in most cases depends on the scale of their investments and the appetite for project size",  - said Vitaliy Radchenko,  partner in energy projects of Kyiv office of CMS Cameron McKenna Nabarro Olswang law firm.

The representative of the European Bank for Reconstruction and Development noted the positive reforms that have been undertaken by the Government for the development of the gas production industry.

"Improvement of the fiscal regime, simplification of the permitting procedure, and adjustment of the rules for access to the subsoil increased the attractiveness of the Ukrainian gas production sector in the international arena. Future progressive changes, including the conduct of online auctions for the sale of licenses and tenders for the conclusion of product-sharing agreements, the availability of geological data, and the strengthening of the institutional capacity of state institutions responsible for regulating of the sector and the codification of the sectoral legislation should further improve investment climate in the industry. The development of production is one of the main priorities of the bank's strategy in Ukraine for the next 5 years "- said Giuseppe Grimaldi, EBRD's principal economist in Ukraine.

"Achieving the ambitious goal of energy independence in the gas sector requires significant investments and the introduction of advanced technologies and practices. Due to the large gas reserves in Ukraine, the developed infrastructure and the liberalization of the market, we expect the interest of foreign investors to grow and are ready to accompany them. However, information is first of all! We are welcome the release of “Ukraine: Natural Gas Production. Playbook 2018”, which will provide comprehensive and high-quality information on the industry to all interested parties, in the first place potential investors", - said Mykhaylo Bechkalo, Chief of the Analytics Department of UkraineInvest.

During the presentation, Oleg Kyryliuk, Acting head of the State Service for Geology and Subsoil of Ukraine described in detail the preparations for oil and gas auctions and said that next year they will be held regularly, that is, on a monthly basis. However, he added that the preparation of lots for auctions, which takes place with the participation of the Association of Gas Producers of Ukraine, should be made qualitatively and the main requirement for the successful conduct of oil and gas auctions is a package of geological information on the proposed areas.

Maksym Fedotov, Director General of the Directorate for Fossil Fuels of the Ministry of Energy and Coal Industry of Ukraine, in his speech, said that the Directorate is currently expecting the Government to adopt amendments to the Roadmap of the implementation of the Concept for the development of the gas industry by 2020, which should bring Ukraine closer to the achievement of the strategic goal.

Vadym Bodaev, Vice President of SigmaBleyzer, chairman of the Energy Section of the US-Ukraine Business Council, spoke about investors' expectations before they came to the market:

"Not so long ago, we have set up a fund and are looking for opportunities to enter with significant investment in the sector. The appropriate option for us is a product-sharing agreement, which to some extent is a protection for potential investors from tax and legislative changes. We need to focus our efforts on the activation of the actions on conducting of auctions and tenders on PSA - these processes should go simultaneously and they will really show how Ukraine is ready to let investors into the industry".