Ukrnafta is looking for investors to increase production at 20 fields.

According to the Ukrainian oil and natural gas extracting company, these 20 fields have 12 million tons of oil with condensate and 30 billion cubic meters of gas reserves. “There are 12 companies from Ukraine, Slovakia, France, Great Britain, the US, Canada, and Mexico interested in this tender“, said the CEO of the state company Serhiy Koretsky.

The success of production expansion will directly depend on the parallel development of oil production services in Ukraine, Koretskyi believes. Therefore, Ukrnafta plans to attract domestic and foreign contractors to expand oil production services: drilling horizontal wells, lateral horizontal shafts, geological exploration works, etc.

The company is ready to offer partners five-year contracts with guaranteed loading to form a strong contractor market. The state oil and gas company plans to start drilling nine wells this year.