Nadra Ukrainy: Cabinet to decide on including Yuzgas in PSA to develop Yuzivska field

16:04, 10.08.2016 1 min read

The Cabinet of Ministers has to make the final decision on including Yuzgas B.V. (the Netherlands), which won the corresponding tender, as an investor in the production sharing agreement (PSA) for hydrocarbons extraction on Yuzivska deposit (Donetsk and Kharkiv region), Nadra Ukrainy board chairman Yaroslav Klymovych has said.

"Procedurally, investors appeal to the government to get consent [for the PSA]. The state has 90 days to study their proposals. And the state has to make the final decision on participants in the PSA," he said at a press conference in Kyiv.

He noted that at this stage all the questions as for the ownership structure, verification of obligations or guarantees put up by the investor can be reviewed.

He noted a total of five companies were interested in the tender announced in late October last year, while three of them bought the information and submitted applications by the deadline of July 8.