Ukraine, Vanco Prykerchenska to revise PSA on Black Sea shelf - DTEK

12:23, 25.09.2015 1 min read

Ukraine and Vanco Prykerchenska plan to sign a new production sharing agreement (PSA) on fossil fuel production on the Black Sea shelf, the press service of DTEK energy holding told Interfax-Ukraine.

"As for the project with Vanco Prykerchenska, we want to remind that today an amicable agreement with Ukraine was signed and it is approved in the Arbitration Institute of the Stockholm Chamber of Commerce and Ukrainian courts. It foresees amendments to the PSA on the agreed conditions. In addition, PSA legislation has been changed a lot. The company plans to sign a new PSA – at present, the document is being agreed in ministries," the press service said.

As reported, the Arbitration Institute of the Stockholm Chamber of Commerce on December 28, 2012 approved the amicable agreement on the PSA on the Prykerchensky section of the Black Sea shelf between Vanco Prykerchenska and Ukraine.