Public Joint Stock Company "Ukrnafta" has acquired a special permit for a hydrocarbon area in the Ivano-Frankivsk region for a period of 20 years.
"This is the first special permit in the company’s history, obtained through an auction held by the State Service of Geology and Subsoil of Ukraine. The company won the bidding by offering 6.5 million UAH," - the press release from the society stated on Friday.
The new area, approximately 9 square kilometers in size, is located between two existing deposits of "Ukrnafta," which ensures the availability of necessary infrastructure for hydrocarbon extraction.
It is expected that the area contains promising reserves of oil, gas, and condensate, with the density of unexplored resources ranging from 30 to 50 thousand tons of hydrocarbons per square kilometer.
As noted by "Ukrnafta," the company’s immediate plans include conducting a series of geophysical and geological-industrial studies to thoroughly assess the potential of the new area.
"The acquisition of this special permit will contribute to expanding "Ukrnafta's" resource base and will stimulate production development," - the press release explained.
"Ukrnafta" is the largest oil production company in Ukraine and operates the national network of gas stations. In March 2024, the company took over the management of Glusco's assets and currently operates a total of 545 gas stations – 460 owned and 85 under management.
The company is implementing a comprehensive program to revive its operations and update the format of its gas station network. Since February 2023, it has been issuing its own fuel vouchers and "NAFTAКарта" cards, which are sold to legal entities and individuals through LLC "Ukrnafta-Pochtach."
The largest shareholder of "Ukrnafta" is the National Joint Stock Company "Naftogaz of Ukraine," holding a stake of 50% + 1 share. In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer the state’s share of corporate rights of the company, previously owned by private owners, which is now managed by the Ministry of Defense.