Ukrnafta is the largest user of drilling and associated oilfield services in Ukraine and has the largest onshore drilling and work-over service operations in the country. The company has a considerable number of drilling units and other peripheral services, spread over 3 regional operational bases (in Prykarpattia, Okhtyrka and Pryluky), which provide all of the in-house services.
Ukrnafta has initiated a strategic review of its onshore drilling and work-over operations aimed at creating an independent oil field service company, that will be able to provide a full range of services both to Ukrnafta and other companies involved in the Ukrainian oil-and-gas sector.
Due to the anticipated increase in the Company’s Work Program combined with the requirement to elevate the level of technical and operational standards, the Company is evaluating a range of strategic options to crystallize the potential of the business. One of the strategic options being considerated is bringing in strategic partners to the service company.