Press releases
Ukrnafta launches a strategic review aimed at the creation of a standalone onshore oilfield service company

Kyiv – Ukrnafta PJSC (“Ukrnafta” or the “Company”) (UX: UNAF UK - PFTS: UNAF), Ukraine’s leading oil&gas producer and fuel retail company, today launches a strategic review of its onshore drilling and work-over service operations.

The goal of the strategic review is the establishment of a stand-alone, Ukrainian based onshore service company, providing a full range of oil field services to Ukrnafta and other operating companies within the Ukrainian oil and gas sector.

Ukrnafta is the biggest user of drilling and associated oilfield services in Ukraine. It has a considerable number of drilling units and other peripheral services, spread over 3 regional operational bases (in Sumy, Chernigov and Ivano-Frankovsk regions), which provide all of the in-house services.

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 crystalize the potential of the business.

During the strategic review, Ukrnafta will be conducting a number of discussions with multinational oilfield service companies with a view to selecting the optimum partner(s) who can help in delivering the company’s vision of developing a Ukrainian oilfield service company providing international standards of technology and operational practices.

Chairman of the Management Board, Peter Vanhecke noted:

“Ukrnafta’s management is convinced of the attractive opportunity to create a Ukrainian oilfield service company, based on Ukrnafta’s current service assets. This will be happening at a time when the growth prospects for the industry within Ukraine are strong due to an increase in the level of activity within the established conventional oil and gas industry combined with the exciting future development of the substantial shale resource plays.

This initiative will enable the technological upgrade of the business as well as provide an attractive alternative for all market participants in Ukraine. We also feel that this project is the best way to protect and safeguard a strong sector knowledge base within the country.

Finally, we will be actively looking for an international technology partner or partners to participate in the project. We expect the project to be finalized during the first quarter of 2012”.

Also read
Published by the press service
Ukrnafta expands remote monitoring

In February 2019, PJSC Ukrnafta began to implement the system of remote monitoring of wells, provided by company NAFTAMATIKA,…

Published by the press service
Ukrnafta continues to increase production in 2019

In January 2019, PJSC Ukrnafta produced 128 ktonnes of oil and condensate and nearly 99 mln m3 of gas, 4.4% and 7.4% up respectively…

Published by the press service
Ukrnafta paid UAH 7.8 bln in rent for 2018

For 2018 PJSC Ukrnafta paid nearly UAH 7.8 bln in rent to the budgets of all levels, 36.7% up against 2017. Thus, the company…

Published by the press service
Production Results for 2018

PJSC Ukrnafta announces its production results for the fourth quarter and 12 months of 2018*. Highlights: Oil and condensate…

Published by the press service
In 2018 Ukrnafta paid UAH 15.3 bln in taxes

In 2018 PJSC Ukrnafta paid UAH 15.3 bln in taxes, including UAH 1.2 bln of the overdue tax debt, to the budgets of all levels.…

Published by the press service
In 2018 Ukrnafta paid UAH 7.2 bln in rent

From the beginning of the year the rent from PJSC Ukrnafta to the budgets of all levels made up UAH 7.2 bln. The oblasts,…

Published by the press service
Ukrnafta produced 1.3 mln tonnes of oil & condensate

For January-November of 2018 PJSC Ukrnafta factually produced the same volume of oil as for the whole year 2017. It increased…

Published by the press service
State Geological Service extended 23 licences of Ukrnafta

On December 6, the State Service of Geology and Mineral Resources extended 23 production licences of Ukrnafta. Besides 11…

Published by the press service
For 11 months Ukrnafta paid UAH 14.4 bln in taxes

PJSC Ukrnafta, one of top 5 tax payers in Ukraine, paid UAH 14.4 bln in taxes for January-November of 2018. That is already…

Published by the press service
For October Ukrnafta paid UAH 779 mln in rent

For October, 2018, PJSC Ukrnafta paid UAH 779.3 mln in rent to the state and local communities’ budgets of different levels.…