'Ukrnafta' will begin geological exploration in the western region of Ukraine.

Ukrnafta has received a special permit for subsoil use

The company 'Ukrnafta' has received a special permit for subsoil use from the State Service of Geology and Subsoil for the 'Oleska' block. This opens up opportunities for the start of exploratory works in a potentially oil and gas-bearing area covering 6,320 square kilometers in Western Ukraine.

Development prospects for Ukraine and the company

The significance of this step lies in the expectation of discovering not only traditional oil and gas deposits but also unconventional resources, such as shale gas and gas from tight reservoirs. Successful exploration and subsequent development could lead to the commencement of unconventional hydrocarbon production in Ukraine. This will increase the company's resource base by 6,324 square kilometers and ensure stable revenues to the state budget.

'Ukrnafta' already has the necessary technological facilities near the site, which will facilitate effective operations there. Developing this new territory will also reduce dependence on imports and global market prices, as well as create jobs in the Lviv and Ivano-Frankivsk regions.

Ukrnafta continues to strengthen its position in the Ukrainian market and develop new oil and gas production areas, contributing to the energy independence of the country.