Ukrnafta is initiating a well revitalization program and is extending an invitation to potential investors for well restoration.

“An integral component of our strategy to augment production is the revitalization of wells that have been previously drilled but are now abandoned. These wells hold potential for future prospects through the application of contemporary technologies,” Sergii Koretskyi, CEO at UKRNAFTA, stated.

At present, there are 4222 such wells. Of these, 2,100 fall within Ukrnafta’s special permits, and 700 are located within the reserve contours.

The company has earmarked 30 wells from these 700 for the pilot phase. 10 will be revitalized independently, and a tender is being announced for the remaining 20. The company invites partners to assist in resuming production at these sites by sinking horizontal sidetracks.

The company proposes a partnership based on the Risk Service Agreement:
- the investor undergoes a compliance check and gains access to the Virtual Data Room with comprehensive information about the wells;
- in collaboration with Ukrnafta’s specialists, the investor forms a pool of wells, ranging from 3 to 12, which will be revitalized by drilling at the partners’ expense;
- the cost of restoring production from the wells is determined through the relevant bidding in the Prozorro system;
- Ukrnafta acquires an additional resource and covers the revitalization costs from the production of the restored wells;
- partners receive a portion of the additional production from the restored wells.

We welcome any Ukrainian or international company that successfully completes the compliance procedure to join us.