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About Us

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Рroduction activities of Ukrnafta are associated with organization and performance of geologic exploration works, exploitation drilling construction of projects for oil and gas production and transformation of hydrocarbon products, production and commercial treatment of them, processing of natural and petroleum gas.

Exploitation stock - 2396 wells, out of them -2169 are oil wells and 227 - gas wells.

FOREIGN ECONOMIC ACTIVITIES OF OJSK UKRNAFTA

Within the last seven years Ukrnafta received imported equipment, materials and spare parts from the 'far abroad' countries worth above USD 77.9 million, including USD 9.8 million in 1997-98. The receipt of the equipment, materials and spare parts for that amount versus USD 14.23 million envisaged by the contracts is attributed to a difficult financial status as well as limited crude oil supplies for such purposes. A total amount of funds required for purchasing imported equipment, materials and spare parts from the 'far abroad' for 1999 by requisitions of the structural units is UAH 178,204,000, including critical imports of absolutely urgently necessary equipment for an amount of UAH 85,675,000.

Ukrnafta activities within the National Programme Oil and Gas of Ukraine until 2010 envisages attraction of foreign investments by formation of joint ventures and concluding agreements on joint activities for commercial development of oil and gas production projects and creation of modem gas processing complex.

Four joint ventures have already been registered, and they currently operate on these conditions

• Ukraine / Canada JV UkrCarpatoil Ltd for Development of Bytkiv-Babchinsky oil field. A foreign company has already invested USD 1,021,000 within a preliminary period (3 years), and it is planned to increase this amount to USD 7.5 million. This JV produced extra 3,280.4 tons of crude oil and 2,412.9 MCM of natural gas.
• Ukraine / US JV Borislav Oil Company Ltd for development of Stynavske field in Boryslav oil field area. USD 1.256 million have already been invested in this JV. The works is in progress according to a programme of the preliminary period as envisaged by the licence agreement. A total amount of planned investments here is about $ 100 million.
• Ukraine / Ireland JV Romgas for construction and operation of a gas processing plant at Okhtyrka oil and gas field area. Formation of the JV authorized fund has been completed. A total amount of expected investments is almost $ 50 million.

Formation of the joint ventures or signing of agreements on joint activities for development of Dolinske, Kohanivske, Hlinsko-Rozbishevske and Chizhivske fields, construction of Anastasivske and Hlinsko-Rozbishevske as well as revamping of Hniditsivske and Kahanivske gas processing plants are at the stage of completion.

Ukrnafta reviews possibilities of its enterprises for activities in the third countries in drilling, well workover and crude production (proposals: Iraq, Nigeria, Libya, etc.) with whom a number of documents have been signed. However, the main problem in arrangement of work is absence of domestic certified equipment.