Investors are interested in the restoration of Ukrnafta wells


According to Volodymyr Hryshanenko, deputy director of Ukrnafta PJSC, the company’s specialists conducted an audit of liquidated wells owned by Ukrnafta.

There are a total of 4,222 of them. Of them, 2,100 are within the limits of Ukrnafta’s special permits. Of these two thousand, 700 are within the boundaries of reserves. That is, they can be restored and receive additional production.

Revitalization of wells is an important element of increasing production.

“The plan for 2024 is to start rehabilitation of 30 wells by drilling side shafts. There are already interested companies that have gained access to the geological data base on these wells,” Gryshanenko noted.

Ukrnafta, as the owner of the well and the special permit, has all the necessary infrastructure, produces and operates the extracted hydrocarbons.

The investor, in return, receives funds due to the generation of cash flow by the restored well.

The agreement is concluded according to the principles of the Risk Service Agreement.

What should be done to work with Ukrnafta in this direction?

Volodymyra Hryshanenko also provided an algorithm of actions for investors who want to work with Ukrnafta. For this you need:

  • apply,
  • pass compliance,
  • sign an NDA,
  • get access to geological data,
  • provide suggestions,
  • come to tender for Prozorro.

Then an agreement is signed with the winners and work begins.

The investor undertakes to carry out mining restoration works – this can be done by his own efforts or by involving “turnkey” contractors. “Ukrnafta” carries out operational control.

The investor receives 70% of the funds generated by the recovered well until he returns the invested investment. After that, he will receive 50% of the funds.

“Ukrnafta” will drill 160 wells in three years

PJSC “Ukrnafta” plans to drill 160 wells within three years. The company will carry out drilling operations using new technologies and the introduction of equipment from the world’s leading companies.

On March 22, the company “Ukrnafta” announced the receipt of a new special permit for the extraction of hydrocarbons. The license was issued by the State Geology and Subsoil Service of Ukraine.

Thanks to this permit, “Ukrnafta” plans to significantly increase production volumes – by one billion cubic meters of natural gas and one hundred thousand tons of oil.

In 2023, Ukrnafta launched 8 new oil wells in the western and eastern territories of Ukraine, which provide a total daily throughput of 238 tons of oil.

In 2023, Ukrnafta produced 1.4099 million tons of oil with condensate and 1.0974 billion cubic meters of gas. These figures are 3% and 6% higher than in 2022, respectively.

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