More than 40 companies have expressed their interest in joint field development with Ukrnafta. “There are already foreign companies ready to go east under production sharing agreements. The tender is ongoing. These are both large and small Western companies,” Sergii Koretskyi, CEO of Ukrnafta, said in an interview with Forbes Ukraine.

According to him, there are 45 companies on the list of interested parties, of which 27 have signed a non-disclosure agreement and are actively studying the documentation. “These are companies with experience, technology and money. They are ready to take this risk,” the CEO stressed.

The first results of the tenders will be announced in January 2024, with agreements expected to be signed by March 2024.

PJSC Ukrnafta offers 21 fields for joint development and invites investment and production companies to cooperate. These are 10 fields in the west and 11 in the east of Ukraine. The 2P (proven and probable) category reserves involve more than 12 million tonnes of oil and over 31 billion cubic metres of gas.