Business news from Ukraine

Business news from Ukraine

U.S. HALLIBURTON STARTS DRILLING IN UKRAINE

Halliburton, an American oilfield services company, has launched a project to drill sidetracks from the inactive fund of JSC Ukrgazvydobuvannia.
According to the press service of the company, at the end of November Halliburton began work on a well on Chutovske field, which was decommissioned in 2016 due to a breakdown in the tubing. It is planned that work on the well will be certified at the end of January 2020, and by the end of the year production from the restored well will be 25 million cubic meters.
“Given the significant depletion of Ukrgazvydobuvannia’s resource base, the implementation of such projects will help keep the volume of natural decline in production. In total, as part of the joint project, Halliburton will carry out turnkey drilling of sidetracks on 26 wells. According to forecasts, additional production from operations will exceed 2 billion cubic meters over ten years,” the company said.
Ukrgazvydobuvannia, 100% of which is owned by Naftogaz Ukrainy, is the country’s largest gas producer, providing about 75% of the country’s total gas production.
Halliburton is the second largest oilfield services company in the world. At the end of 2018, the company’s revenue increased by 16%, to $24 billion.

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WINDROSE LAUNCHES NEW FLIGHTS IN UKRAINE

Windrose will open new regular flights from Ivano-Frankivsk to Kyiv (Boryspil), Dnipro and Otopeni (Romania) from December 27, 2019.
According to the company’s press service, flights will be operated on Mondays and Fridays on board Embraer 145 aircraft.
Departure from Ivano-Frankivsk to Kyiv is scheduled for 16:40, arrival for 17:50. The return flight’s departure from Kyiv is at 09:20, arrival at 10:40. The cost of a one-way ticket with baggage up to 23 kg is from UAH 2,100.
Departure from Ivano-Frankivsk to Dnipro is scheduled for 15:50, arrival for 17:10. The return flight’s departure from Dnipro is at 11:40, arrival at 13:15. The cost of a one-way ticket with baggage up to 23 kg is from UAH 2,700.
Departure from Ivano-Frankivsk to Otopeni is scheduled for 12:00, arrival at 13:15. Return: departure from Otopeni at 14:00, arrival at 15:30. The cost of a one-way ticket with baggage up to 23 kg is from UAH 2,500.
Windrose airline was founded in 2003. Its core business is organization and implementation of charter, corporate, tourist, and VIP flights.

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SWEDISH IKEA DECIDES TO OPEN STORE IN UKRAINE AFTER LAUNCHING E-COMMERCE IN SPRING

The Swedish company IKEA, the world’s largest retailer of furniture and household goods, has updated its plan to enter the Ukrainian market, deciding to launch e-commerce first. “In order to make the range of IKEA functional products with attractive designs and prices affordable for as many people in Ukraine as possible, the company decided to launch e-commerce first. The expected launch date is spring 2020,” the company said. At the same time, they confirmed their intention to open a store in Kyiv.
“IKEA confirms its commitment to Ukraine and plans to open the first store in Kyiv as soon as possible after the launch of e-commerce,” the company said.
As reported, in the summer of 2019 IKEA announced the launch of an official website for Ukrainian consumers and the recruitment of staff to work in the first urban-format store in Kyiv (about 100 employees). The opening of the store was scheduled for the end of 2019.
In September 2018, IKEA officially announced the opening of the first city store in Ukraine in 2019. The facility was supposed to be opened in the Ocean Mall trade center in Kyiv. However, the retailer later said that due to the delay in building the shopping center, the company is considering alternative ways to start business in Ukraine.
The network in Ukraine is developed by IKEA Southeast Europe, which is part of IKEA Group (Ingka Holding B.V.). The company is engaged in the retail business of IKEA in Croatia, Serbia, Romania, and Slovenia.

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ALL TERRITORY OF UKRAINE WILL BE DIGITALIZED NEXT YEAR

The State Service of Ukraine for Geodesy, Cartography and Cadastre has announced a tender to carry out aerial mapping of the territory of Ukraine, as well as to create orthophotomaps and a digital terrain model (DTM), Ukrainian Prime Minister Oleksiy Honcharuk has said. “Ukraine will have high-quality and accurate 3D models of forests, industrial structures, as well as classifications of buildings, plants, power lines and much more. Investors will be able to easily design facilities and invest in infrastructure,” the government’s press service reported, citing Honcharuk as saying. According to the report, the total cost of the work is UAH 276 million. The deadline is until December 2020.
In addition, in preparation for land reform, the State Service for Geodesy, Cartography and Cadastre is actively filling out a database. So, in three months, six new information layers appeared on the public cadastral map. Now information on 20.9 million land plots (total area of 43.8 million hectares) has been entered.
Among other things, the authority began using satellite-based land monitoring data in test mode, and in just a week completed 755 public control measures over the use and protection of land.
It is reported that according to the results, 301 violations of land legislation with a volume of damage of more than UAH 1 million were revealed, of which UAH 691,720 were voluntarily repaid.

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UKRAINE EXPORTS 24.8 MLN TONNES OF GRAIN SINCE START OF MARKETING YEAR

Ukraine since the beginning of the marketing year 2019/2020 (MY, July-June) and as of December 2, 2019 had exported 24.81 million tonnes of grain and leguminous crops, which is 32% more than on the same time in the past MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, the country has currently exported 13.47 million tonnes of wheat, 7.52 million tonnes of corn, and 3.5 million tonnes of barley.
As of December 2 of this year, 156,500 tonnes of flour had been also exported.
As reported, Ukraine in the 2018/2019 MY exported a record 50.4 million tonnes of grain, legumes and flour, which is 23% more than in the previous MY.

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