18:34 25.06.2018

U.S. SigmaBleyzer ready to invest $100 mln in production of fossil fuel in Ukraine - regulator

2 min read
U.S. SigmaBleyzer ready to invest $100 mln in production of fossil fuel in Ukraine - regulator

U.S. SigmaBleyzer investment company is ready to invest $100 million in production of fossil fuel in Ukraine under product sharing agreements (PSA), the State Service for Geology and Deposits of Ukraine has reported, referring to SigmaBleyzer President Michael Bleyzer.

"We have been studying the potential of Ukrainian minerals for a long time, especially in the sphere of oil and gas fields. The strategy of our company is development of sites where there has never been industrial production... We are interested in areas over 500 square kilometers on PSA conditions. We are ready to invest $100 million at the first stage," the press service of the authority said, citing Bleyzer after a meeting between the heads of SigmaBleyzer, Aspect Holding and Energy Transfer companies with Head of the State Service for Geology and Deposits of Ukraine Oleh Kyryliuk.

According to Kyryliuk, in the near future the government intends to announce a tender to sign the PSA.

As reported, the investment company SigmaBleyzer is studying the possibility of creating an investment fund in Ukraine focused on the energy sector, and in particular, on gas production.

SigmaBleyzer manages funds of the UGF family (UGF I, II and III), the first of which was established in 1996, and the Sigma Bleyzer Southeast European Fund IV (SBF IV) of EUR 250 million, closed in February 2007. In 2012, the volume of assets under management was estimated at $1 billion.

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