Oil and gas industry is one of the most targeted investment industries of the world. Many countries are attracting investors from various parts of the globe to invest in this sector. Let’s take the example of the Ukraine. It is trying to attract more investors, but it has Ukraine updates to take several steps to be successful.
One of the major concerns is to make energy or oil & gas more visible to its global players. Several elements such as laws, regulations and fiscal regime have to be successfully addressed in the Ukraine to attract influential investors. If proper regulations are laid out, the country will be of international interest, and become one of the global players in coming years.
The Ukraine needs to make effective ways to form partnerships. It must consider the future and long-term opportunities to yield profits other than immediate earnings of oil & gas projects. It has a prominent and vast academic base which provides a large potential to generate a domestic government society to form future strategy for projects.
The Ukraine hosts various industry segments which can benefit from more synchronized oil & gas efforts guided by transparent and sound national strategy to the investors. It is important that certain issues with the country must not be ignored.
Major issues in Ukraine oil & gas industry
Ukraine suffers from a lack of transparency in the energy sector today. There is a need to update and make their energy sector more prominent if it aims to attract potential national and international investors. These investors can take part in developing diversified resources in the Ukraine within oil & gas. Opening the landscape and encouraging trust would make way for government and investors to resolve the challenges ahead of the country.
It has also been observed that Ukraine does not have economic power to take up the challenges of oil and gas industry. Apart from focus on oil and gas prospects, there should be an effort to focus on Shale gas and Coral Bed methane which may give more opportunities to Ukraine.
One of the major concerns that needs to be paid attention to is the establishment of a National Data center for oil & gas resources. This effort will make the nation more attentive, creditable and transparent in regard to the resources worldwide. It will attract more investors once these issues are managed properly.
It is expected that such improvements will open a door for many investors and multi-lateral agreements between service companies and countries. Oil & gas companies must be welcomed to provide such facilities.