The Project's objective is to maintain the achieved production level (despite the natural decline) and build up hydrocarbon reserves at existing fields in a more cost-effective manner. The Project implementation will allow: - Reduce the cost of R&D operations by reducing the number of operations performed by third-party organizations and increasing the number of operations performed by our own R&D machines. - Make R&D operations more cost-effective, taking into account the significant decrease in the market price for gas. - Intensify gas production from existing wells by increasing the number of R&D operations. - Carry out R&D operations on deeper wells, in particular side-hole drilling or work on wells of sealed reservoirs, by purchasing machines with a lifting capacity of 180 tons. - Partially update our own R&D machine fleet by purchasing 5 R&D machines with a lifting capacity of 125 tons.

Type of problem: reduction of gas production from existing wells. Due to depletion of deposits (the lion's share of gas production volumes of JSC "Ukrgazvydobuvannya" falls on deposits depleted by more than 75%), basic production from existing deposits is reduced by 8-13% annually (natural decline in production), which increases Ukraine's dependence on imported gas supplies. To reduce the natural decline in gas production from existing wells, it is necessary to constantly repair them. The Company's existing own fleet of well repair machines (WHM) is in unsatisfactory technical condition due to long-term operation, the inability to restore the resource of the existing fleet due to the lack of appropriate spare parts due to their obsolescence. 78% of the total number of WHM machines have been operated for more than 15 years, 17% are inoperative. 61% of the Company’s existing fleet of drilling rigs are rigs with a lifting capacity of 80 tons and less. Such rigs can only be used for preventive well repairs. In addition, the Company does not have any rigs with a lifting capacity of more than 125 tons in its own fleet, which makes it impossible to carry out drilling rig operations on deep wells on its own. Restoring the operational characteristics of the existing rigs is impossible, since the relevant models of the rigs have long been discontinued, in addition, the manufacturers of some of the existing rigs are located in the Russian Federation or the Republic of Belarus..