Ukrnafta is looking for partners for new blocks development

PJSC Ukrnafta has announced its interest in forming an exploration joint venture with international partners for developing new onshore blocks. The company invites foreign investors for joint participation in new license round, announced by the State Service of Geology and Mineral Resources of Ukraine.

The initial round for oil and gas onshore blocks is scheduled for October 25 this year. It opens for bidding 4 geographical oil and gas onshore blocks: two in Sumy region and two in Lviv region. 40 more blocks are to be offered later on. According to the State Service, the total amount of gas of 44 blocks for bidding is estimated at a trillion of cubic meters.

Inviting to the partnership in Ukraine, Ukrnafta offers foreign partners decades of experience in Ukraine, enormous understanding of Ukraine’s oil and gas basins and in-depth understanding of the legal and regulatory framework. Today the company operates 82 fields in the Eastern and Western Ukraine and has been working on the local market for more than 20 years.

Reference EXPRO:

Ukrnafta is the largest oil company in Ukraine. The company’s share in the nation’s oil and gas condensate production in 2017 is 65.7%, while the share in total gas production is 5.3%. There are 43 own drilling rigs on the balance sheet of the company, 1936 oil and 168 gas wells, and 537 filling stations that cover every region of Ukraine. The company is 50%+1 share owned by Naftogaz of Ukraine, a fully state-owned holding company.