Considering the fact that not all potential partners had time to familiarize themselves with the opportunities of 21 fields in details (10 fields are located in the west and 11 in the east of Ukraine) and in order to ensure transparency of the process of submission and evaluation of applications, PJSC "Ukrnafta" decided to extend the submission deadline.
During applications evaluation, preference will be given to Product Sharing Agreements, that will allow to fully unleash the potential of fields with sufficient reserves, but low production rates.
It is worth mentioning that the reserves of the 2P category, i.e., the proven and probable reserves of fields eligible for the partnership, amount to more than 12 million tonnes of oil and more than 31 billion cubic meters of gas.
As it is planned, Ukrnafta provides a field and the right to use the existing oil and gas production infrastructure. A partner must create a field development plan to intensify production, provide financing and technology.
After a thorough evaluation of all proposals received, negotiations will be conducted, and partners will be selected separately for each field. Product Sharing Agreements will be finally approved by the Cabinet of Ministers of Ukraine.
Profit hydrocarbons will be shared between Ukrnafta and partners according to the agreed conditions.
Source: PJSC "Ukrnafta"