VIKOIL IN ROMANIA: Experience, professionalism and cost-effective services

Late last year, Vikoil, leader in Ukraine in geophysical services, has opened a subsidiary in our country. Mr. Volodymyr Gryshanenko, Director of Vikoil Romania, shared with us information about the company’s objectives and development plans in Romania.  

Q: What made you choose Romania?

Volodymyr GryshanenkoA: The decision to open a branch in Romania was determined by several factors:

a) following market research on European markets, the results showed that the Romanian G&G service market is

very promising and dynamic;

b) currently on the market there is only one local firm running seismic research, so the entry of the second company on the market will increase competition and provide the companies operating in the oil and gas industry more opportunities for G&G cost-effective quality services;

c) Vikoil is the leader in the geophysical field in Ukraine, being specialized in 2D, 3D and 4D seismic prospecting to research and prospect conventional oil and gas fields. In order to develop the company we consider necessary to expand it on new markets;

d) the company’s development strategy includes our accession to the EU market. Romania is the EU country with the largest market for G&G services among all Ukraine’s neighbouring countries.

Q: What are the main services offered by Vikoil? What about the ‘best cards’?

A: Our company provides a full range of services for the design and deployment of land seismic surveys, seismic data processing and interpretation, as well as engineering support services related to the use of the seismic information obtained: deposit modelling, establishment of geological and hydrodynamic models, improvement of development systems for oil and gas deposits, the optimization of production, exploitation and well deployment on the field, design and implementation of modern technologies to improve oil and gas production as well as providing capital renovation or well maintenance. The basic services provided by the company are:

• Land seismic data acquisition;

• Seismic data processing;

• Seismic data interpretation;

• Gravity-magnetic survey;

• Vertical seismic profiling;

• Reservoir engineering;

• Petroleum engineering.

Our main strengths are the use of modern equipment and software, our specialized team, our vast experience in various countries and climatic conditions, as well as the quest of scientific progress in the field. We offer our customers a flexible system of service and the full range of G&G services - from field work to determine the optimum location for wells to individual services on certain types of activities. Also, our company is going to combine the expertise of both countries, Ukraine and Romania. Their combined experience and professionalism will surely bring good results in their activity.

Q: What are Vikoil’s goals in Romania on short and long term?

A: On short term, Vikoil’s main objective is to strengthen the company’s presence on the Romanian G&G services market and to provide quality services to oil and gas companies at a competitive price. The company’s strategy involves investments amounting to USD 10-12 million for the additional purchase of equipment and modern software, real estate investments (bases, offices) and attracting qualified local personnel. Currently, the company is running active campaigns to recruit experienced professionals in the oil and gas industry in Romania, namely it has opened a number of vacancies for positions such as: deputy director of business development department, deputy director of the department of seismic studies, deputy director of the legal affairs department, chief of the seismic brigade, economic planning department manager, authorization department manager. On this occasion, we urge interested candidates to contact us through the main office in Bucharest or through the recruitment department.

On the long term, our company, coming on the Romanian market, intends not only to provide services for the exploration of hydrocarbons, but also to enter the oil and gas market, namely to take over licenses for hydrocarbons’ extraction. In order to achieve these objectives there are set additional investments of about USD 50 million for a period of five years.

Q: In the present context, the one of oil price reaching new lows of the past five years, which are the basic mechanisms for the company’s development?

A: If oil prices fall, the market demand for service is shrinking, while the competition is increasing on the market, which in turn acts as an incentive to improve the management structure of service providers, to optimize costs, to form additional services etc. In such cases, only stable companies with a flexible management system are able to develop. Our company has experience in various countries worldwide, including in countries with developing economies. This experience allowed us to set up an efficient company structure, to form the ability to adapt to market conditions. The main issues for the development of our company is the staff orientation towards the full satisfaction of all customers’ requirements, the carrying out of our services faster and providing quality, the development of mobility and of our ability to find solutions, along with promoting a flexible price system for our services.

The company’s competitive advantages as well as an effective strategy to expand on the market, allow us to optimistically look forward to working on the Romanian oil and gas industry services market. Our company’s presence in Romania will increase the services’ quality, will promote competitive prices with optimum deadlines, and in turn they will increase the amount of exploration work and the promotion of the entire exploiting industry.

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March 2015

June 2017