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Petroleum industry

Trans-Dominion Energy Secures Protocol Agreement with Ukranafta for Stynava Oil and Gas Field

Strategic Insights

— 1 min read

Trans-Dominion Energy Corporation (TDE) has signed a Protocol Agreement with Momentum Enterprises Inc. of Calgary and Ukranafta, the Ukrainian State Oil Company, allowing TDE to access confidential data for the Stynava Oil and Gas Field in Western Ukraine. The field, located in the Carpathian Mountains, has been in production since 1967, but its current production rate of 400 barrels per day (bpd) from 10 wells is significantly lower than its peak of 1,300 bpd in 1975. TDE plans to review the technical data over the next three months and, if feasible, negotiate a production sharing agreement with Ukranafta to potentially increase production using modern drilling and completion techniques.

Key Takeaways:

  • TDE has secured a Protocol Agreement with Ukranafta, granting rights to confidential data for the Stynava Oil and Gas Field in Western Ukraine.
  • The Stynava Oil and Gas Field commenced production in 1967 and reached a maximum production rate of 1,300 bopd in 1975, with the current production rate at 400 bopd from 10 wells.
  • The field covers 7,400 acres, is approximately 20 kms south of the city of Stryy, and 80 kms from the border with the Slovak Republic.
  • TDE will review the technical data over the next three months to determine potential for increasing production using modern drilling and completion techniques.
  • Ukranafta is the Ukrainian State Oil Company, and Momentum Enterprises Inc. is based in Calgary.
  • The oil gravity at the field is approximately 50 degree API.

Statistics:

  • The Stynava Oil and Gas Field covers an area of approximately 7,400 acres.
  • The field is situated approximately 20 kms south of the city of Stryy and 80 kms from the border with the Slovak Republic.
  • The current production rate of the field is 400 bpd from 10 wells.
  • The maximum production rate of the field was 1,300 bopd in 1975.
  • The oil gravity at the field is approximately 50 degree API.

Sources:

  • BUSINESS WIRE, "Trans-Dominion Energy Corporation Signs Protocol Agreement with Ukranafta", July 4, 1995.

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