The largest oil producing company, Ukrnafta, will begin geological exploration at the Oleska area.
This is announced in a statement by Ukrnafta, Ukrainian News Agency reports.
The statement says that the company has already received a special permit from the State Service for Geology and Subsoil to use subsoil within the Oleska area.
It is noted that Ukrnafta has become a party to the agreement on the sharing of production to be produced at the Oleska area.
The other party to the agreement on the sharing of production is the state represented by the Cabinet of Ministers of Ukraine.
The company is starting exploration and prospecting work on a potentially oil and gas-bearing area with an area of 6,320 square kilometers in Western Ukraine.
As Ukrainian News Agency earlier reported, in 2024, Ukrnafta reduced its net profit by 30.5% to UAH 16.4 billion compared to 2023.
In November 2022, shares of Motor Sich, Ukrnafta, AvtoKrAZ, Zaporizhtransformator (ZTR) and Ukrtatnafta were alienated into state ownership for the period of martial law.
After its end, the assets may be returned to the owners or their value will be reimbursed.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.