Ukraine is looking for investors to restore oil wells.

According to Ukrnafta, the company’s strategy is the restoration of exhausted wells with the help of modern technologies. There are currently 4,222 such wells, 2,100 are within the limits of Ukrnafta’s special permits, and 700 are within the reserves’ boundaries. The company will choose 30 wells for the pilot project and invite partners who will help restore production.

The company offers an agreement based on the principles of the Risk Service Agreement:

1. The investor undergoes compliance certification and receives access to information about the wells.
2. Together with Ukrnafta specialists, a pool consisting of between 3 to 12 wells will be formed, which will then be restored by drilling at the partners’ expense.
3. The cost of resuming well production is determined through appropriate auctions in the Prozorro system.
4. Ukrnafta receives an additional resource and pays for the revitalization using the funds from restored wells.
5. Partners receive part of the additional production from recovered wells.