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Ukrnafta invites partners for joint development of deposits

Ukrnafta invites partners for joint development of deposits

Ukrnafta invites partners for joint development of deposits

Ukrnafta offers 21 deposits for joint development and invites investment and extraction companies to collaborate. Of these deposits, 10 are located in the western part of Ukraine, and 11 are in the eastern part. The company published the invitation on its website.

Ukrnafta plans to fully unleash the potential of its existing deposits with significant reserves but low extraction rates, which is why it expects its partners to invest money and technology in exploration and extraction.

Quote"Speaking about 2P category reserves, that is, both proven and probable, they exceed 12 million tons of oil and 31 million cubic meters of natural gas," says Serhii Koretskyi, director of Ukrnafta.

Model contracts have already been prepared based on best global practices. Product Sharing Agreements are preferable. Ukrnafta will contribute its own existing deposit and the right to operate the existing extraction infrastructure, while the partner’s contribution will be a deposit development plan aimed at extraction intensification and funding of the respective work.

To complete the application and selection process, potential investors will:

  • express their interest;
  • complete compliance procedures;
  • be given access to a Virtual Data Room with details about deposits;
  • give their offers for development plans and terms of collaboration;
  • after Ukrnafta assesses the offers and conducts negotiations, winners are selected for each individual deposit;
  • the parties agree on the final text of the product sharing agreement;
  • the agreement is approved by the Cabinet of Ministers of Ukraine;
  • the implementation of the development plan begins;
  • profit is distributed on agreed-upon terms.

Applications can be submitted by January 10, 2024, using the following contacts:

[email protected]

+38 044 506 10 69

[email protected]

Oleksii Zinkov, Director of the Strategy and Investment Department.

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