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Ukrnafta starts looking for partners for five investment projects

26 July 2017

Public joint-stock company Ukrnafta has started looking for partners for five investment projects the implementation of which is planned at its facilities, the press service of Ukrnafta reported on Tuesday.

"Ukrnafta has called for expression of interest from potential investors offering 5 projects in upstream, drilling and gas processing… Ukrnafta expects to receive expression of interest by September 30, 2017," the company said in a report, according to Interfax.

The company said that the first three projects offered to potential investors envisage boosting oil and gas production at Boryslavske, Bytkiv-Babchynkse and Rudovsko-Chervonozavodske fields including new vertical and side-track drilling, fracking and stimulations, upgrading of infrastructure.

The other two projects concern investment in drilling and oil field services to benefit from activity expansion by Ukrnafta, state-controlled Ukrgazvydobuvannia and private companies, as well as investment in modernization of one of Ukrnafta’s gas plants to improve LPG yield and reduce losses of gas which can then be sold at market prices.

Ukrnafta is the country's largest oil producer. Naftogaz Ukrainy owns a 50% plus one share stake in Ukrnafta. A group of companies associated with the former shareholders of PrivatBank holds about 42% of the shares.


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