Ukrnafta plans to involve partners to develop 21 fields

That's according to the company's press service, Ukrinform reports.

"Ukrnafta offers 21 fields for joint development and invites investment and mining companies to cooperate. We are talking about 10 fields in the west and 11 in the east of Ukraine," the report said.

The company said the issue concerns existing fields with sufficient reserves, but low production rates. The proven and probable reserves at these fields amount to more than 12 million tonnes of oil and more than 31 billion cubic meters of natural gas.

Ukrnafta expects its partners to be ready to invest funds and technologies in exploration and production. When concluding contracts, preference will be given to production sharing agreements.

Ukrnafta's contribution will be its own existing field and the right to use the existing mining infrastructure, whereas the partner's contribution will be a field development plan for the intensification of production and financing of relevant works.

Agreements with partners must be approved at a government meeting.

Applications can be submitted until January 10, 2024.

In January-July 2023, PJSC Ukrnafta increased oil and gas condensate production by 4.5% year-over-year, to 828,000 tonnes.