13:57 21.12.2017

Ukraine to present three oil and gas PSA projects for tenders with intl bidders

Ukraine to present three oil and gas PSA projects for tenders with intl bidders

The interagency commission for organization of signing and implementing the product sharing agreements (PSA) would soon present three projects at a tender with participation of international bidders aiming to attach an investor, the commission head, Energy and Coal Industry Minister of Ukraine Ihor Nasalyk has said.

"The PSA commission discussed three projects and will present them at an international tender to attract investors," he said at a press conference in Kyiv on Thursday, not disclosing the concrete projects.

He said that the interest of oil and gas investors ready to invest $200 million or $400 million or $600 million in the country where the situation is unstable and hostilities are seen is small.

"But we have some," Nasalyk said.

He added that recent decisions regarding the secured stock of gas and the reduction of royalty for new wells by the Verkhovna Rada should increase the interest of investors.

"We expect that companies with medium and high level of technologies would enter the Ukrainian market," the minister said.

Early November the ministry said that the interagency commission for organization of signing and implementing PSA approved draft resolutions of the Cabinet of Ministers on holding a tender for signing a PSA for Varvynske field and on holding a tender for signing a PSA for Berestianske, Smilianske, Romanivske, Shubynske, and Novostepanivske fields.

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