Ukraine is looking for investors to restore oil wells.

Thursday, April 11, 2024
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.

 

Support independent journalism team

Dear Ukraine Business News reader, we are a team of 20 Ukrainian journalists, researchers, reporters and editors who would humbly ask for your support.

Previous post
The EU is preparing the 14th package of sanctions, while Russian oligarchs are escaping previous sanctions through the EU court.

The EU is preparing the 14th package of sanctions, while Russian oligarchs are escaping previous sanctions through the EU court.

Next post
Switzerland plans to provide $5.5B for Ukraine’s reconstruction through 2036, and Luxembourg directs €50M to the reconstruction of Kryvyi Rih.

Switzerland plans to provide $5.5B for Ukraine’s reconstruction through 2036, and Luxembourg directs €50M to the reconstruction of Kryvyi Rih.

Previous Main Topics