PSA with ExxonMobil foresees Ukraine's gaining instant bonus of $325 m

A production sharing agreement (PSA) with the consortium of companies led by ExxonMobil to develop the Skifske deposit of the Black Sea shelf foresees Ukraine's gaining a bonus of $325 million, Minister of Energy and Coal Industry Eduard Stavytsky said at a briefing on Thursday.

"A bonus of $325 million is paid within ten days after signing a PSA on the Skifske field," he said.

The minister also said that the recently signed PSA with Chevron does not foresee Ukraine's obtaining any instant cash bonuses, as the conditions of shale gas production on Oleska deposit are geologically complicated.

He also said that the PSA with Chevron foresees the state's receiving at least 30% of the planned production on Oleska area, and under a more optimistic scenario Ukraine could receive up to 40% of the produced gas.

"The remaining 60-70% [of the produced gas] will be distributed in the ratio of 50 to 50 with investors - Nadra Oleska and Chevron," the minister said.