Development of the Ukrainian Oil & Gas assets

PJSC "Ukrnafta"
Investment amount, USD
Region Lviv
Sector Extraction
Location Western and North-eastern regions of Ukraine
Opportunity Different contract structures, primarily production-sharing agreements and risk-service contracts
Status An application process lasts till January 10, 2024
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USD 10 mln up to USD 120 mln per field

Attraction of investors to the exploration and development of oil and gas fields to obtain the highest level of hydrocarbon production on the most favorable terms. Having 90 licenses, PJSC “Ukrnafta” has selected 21 promising fields and seeks to attract experienced partners to fully unleash the potential of the fields.

Partner’s role:
Implementation of the proposed field development program using international experience to explore and develop Ukrnafta’s licensed oil and gas fields.

Contractual framework:
PJSC “Ukrnafta” are open to negotiating different contract structures, preferably production-sharing agreements and risk-service contracts


  • The partner will execute the proposed field development program, while Ukrnafta maintains operational control over the assets and infrastructure. Ukrnafta may act as the operator for the wells, although the investor can propose to assume operatorship within their investment proposal.
  • Application & Selection process
  • Potential investors express their interest and after the compliance procedures get access to a Virtual data room summarizing all the detailed information on available fields;
  • If interested, candidates submit their offers of field development plans and cooperation terms;
  • Ukrnafta evaluates the offers and selects the winner;
  • Ukrnafta and investor negotiate a final agreement and, after receiving the approval of the Cabinet of Ministers of Ukraine, start to implement the development plan;
  • Financial gains from cooperation are distributed according to the agreed terms.

An offtake contract shall be concluded between an investor and Ukrnafta for the entire period to sell investor’s share in production of oil/condensate to Ukrnafta at the market price. An offtake contract for investor’s share in natural gas is negotiable.

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