Ukrnafta plans to increase investments in production intensification
Ukrnafta plans to increase investments in production intensification

Ukrnafta is seeking to increase investments in intensification of production of hydrocarbons at existing wells this year. To this end, the company has offered to potential partners 30 high-potential wells at 16 fields to perform heavy workovers, fracking and sidetracking. The company estimates the total investment at USD 31 mln.

The parties will cooperate based on risk service contracts, where the investor will provide funding and technical expertise, whereas Ukrnafta will pay a service fee as function of incremental profit obtained as a result of provided services. At the same time, Ukrnafta will keep the title to the wells and hydrocarbons.

In 1H2018, Ukrnafta’s own oilfield services units performed four fracking operations in Western Ukraine, completed capital workovers of 58 wells and 54 production enhancement jobs.