The Cabinet of Ministers approved the draft production sharing agreements

At a meeting on December 28, the Cabinet of Ministers approved draft production sharing agreements for 7 fields: Sofiivskyi, Uhnivskyi, Balakleiskyi, Ivanovskyi, Zinkovskyi, Buzivskyi, Berestyanskyi, the press service of the Ministry of Energy reports.

Tenders for these agreements took place in 2019.

Representatives of the government and investors have carried out significant systematic work to form mechanisms to implement production sharing agreements.

“In the absence of a practical application of the mechanism for the implementation of production sharing agreements in Ukraine, the negotiating teams managed to formulate mechanisms for implementing oil and gas activities in the subsoil areas within the time allotted by the legislation, taking into account the long-term perspective. These mechanisms formed the basis for the draft production sharing agreements, which were approved by the Cabinet of Ministers,” the statement says.

Earlier it was reported that the Cabinet of Ministers approved the purchase of Nadra Yuzovska by Naftogaz.

Tags: The Cabinet of Ministers, gas, Naftogaz, oil, hydrocarbon production, PSA, negotiations, agreement, The Ministry of Energy

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