The Public Service of Geology and Subsoil of Ukraine will put on electronic auctions 30 oil and gas fields by the end of May

The State Service of Geology and Subsoil will prepare and put up 30 oil and gas fields by the end of May 2019 for electronic auctions. Oleh Kiriliuk announced it.

“We plan that the Public Service of Geology will prepare more than 30 oil and gas fields for two months to put on auctions. These auctions should be completed before the end of May,” he said at a meeting of the Cabinet of Ministers of Ukraine on Wednesday.

The first electronic auction this year will take place on March 6, 10 oil and gas fields will be put up for auction. The second auction will be held on April 29 with 7 fields.

Predictable resources of fields that will be put up for auction on March 6 are more than 92 billion cubic meters of gas and 16 million tons of oil. The starting price of lots will be from 5 million UAH to 500 million UAH.

Now the Service is coordinating with the Ministry of Ecology 9 more oil and gas fields to put up for auction.

Oleh Kirilyuk also said that in March they will put up for auction 10 fields with reserves of graphite, beryllium, and zirconium.

In general, until the end of 2019, The Public Service of Geology will put up about 70 fields of mineral resources for electronic auctions (30 – hydrocarbon, 40 – ore and non-metallic).

On October 24, 2018, the temporary procedure for implementing the project on the introduction of electronic auctions for the sale of special licenses for the use of subsoil came into force. In accordance with it, the sale of licenses is carried out exclusively through electronic auctions.


Tags: gas, oil, gas production

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