Interdepartmental Commission recommended winners for three oil and gas fields

The Interdepartmental Commission on the organization of the conclusion and implementation of production sharing agreements (PSA) announced the results of the evaluation of applications of bidders in three fields – Akhtyrskyi, Hrunivskyi and Ichnyanskyi. This was reported by the press service.

York Energy Limited (Alpha Energy group, Great Britain) will be recommended as the winner of the contest for Ichnyanskyi field, and the central European holding EPH (with the Slovak operator Nafta) will recommend the winner for Akhtyrskyi and Hrunivskyi fields. The government will have a month to analyze the recommendations of the Commission and announce the winners of the contests.

“We recognize the importance of investments today, and I am grateful to the members of the Commission for their fruitful work, as a result of which we were able to analyze all applications and formulate recommendations in a timely manner”, Roman Opimakh summed up. According to competitive conditions, companies are required to invest at least US $100 million in exploration over five years and drill at least 14 exploration and production wells. These are large long-term projects that can give a significant impetus to the development of the mining industry of Ukraine”.

In total, 5 applicants submitted applications for the development of three oil and gas fields, including the Canadian public company Vermilion Energy (in partnership with Ukrgazvydobuvannya), Ukrnaftoburinnya, and DTEK Neftegaz.

The decision of the Interdepartmental Commission was formed based on the results of scoring, carried out in accordance with the procedure developed jointly with market experts, the Big Four and the USAID Energy Security of Ukraine.

To recap, in February Ukrgazvydobuvannia and a subsidiary of the Canadian oil and gas company Vermilion Energy filed joint applications for participation in 2 PSA contests, within the framework of Hrunivskyi and Akhtyrskyi fields.

Tags: The Cabinet of Ministers, gas, DTEK, Naftogaz, contracts, oil, hydrocarbon production, legislation, EU, The Minystry of Energy and Coal Mining, Top management, energy market, Ukrgazvydobuvannya, gas production, drilling, Public Service of Geology and Subsoil of Ukraine, Oil refinery plant, Gas processing plant, foreign affairs, Favorov, Gas market, investments, agreement, volumes, petroleum products, field, energy sector, technologies, natural gas

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