The overarching objective of transitioning to clean energy by 2050 necessitates a comprehensive overhaul of energy systems and a prompt, well-balanced shift from fossil fuels to renewable energy sources. Therefore, the International Energy Agency (IEA) is calling for an immediate cessation of funding for new projects in the oil and gas industry.
However, given the current energy crisis, the unprecedented demand for coal, and other challenges of the transition period, the European Commission has incorporated the gas industry into the "green taxonomy" and classified natural gas as a means of facilitating the shift towards mostly renewable sources. The International Energy Agency (IEA) predicts that natural gas production will increase to around 4,300 billion cubic meters by the mid-2020s, before decreasing to 3,700 billion cubic meters in 2030 and 1,750 billion cubic meters in 2050. This demand projection indicates that, in addition to the fields already approved for development, the industry does not need to explore new resources.
NADRA GROUP is a company that has been providing integrated services in the oil and gas sector since 1991. It supports production projects in Ukraine and introduces advanced technologies to the country's oil and gas industry.
Since 2015, in light of the Paris Climate Agreement signed by nations worldwide, NADRA GROUP has focused its primary area of operation on delivering integrated solutions and effective technologies to investors and production firms in order to enhance oil and gas production in brownfields.
Boosting production from mature deposits could potentially reverse the present trend of declining hydrocarbon production in Ukraine. The implementation of new technologies will play a crucial role in achieving higher levels of oil and gas production, and reaching a recovery rate of 40-50 percent of geological reserves.
The majority of Ukraine's significant deposits are mature and depleted, and are presently in their final stages of development. The use of outdated production technologies in Ukraine has resulted in a maximum extraction of only 25 percent of geological reserves. However, given the considerable number of active and inactive wells (over 12,5 ths. ones), the potential for such work in Ukraine is enormous.
NADRA GROUP has joined efforts with HALLIBURTON Company to introduce groundbreaking EOR (enhanced oil recovery) technologies to mature fields in Ukraine. On November 24, 2021, the two companies signed a memorandum of cooperation, with the aim of implementing HALLIBURTON's top-notch practices, methods, and innovative technologies in Ukraine, to boost production in mature fields that are currently under development.