Winners of PSA tenders to invest about $430 mln in exploration

10:52, 02.07.2019 1 min read

The winners of tenders for the development of hydrocarbon deposits on the basis of production sharing agreements (PSA) will invest about $430 million in exploration, Yulia Kovaliv, the head of the Office of the National Investment Council of Ukraine, has reported.

"According to the results of the first tender over the past seven years to sign production sharing agreements, American, Canadian and Ukrainian (state and private) companies will invest more than $430 million in exploration of deposits," she said on Facebook.

As reported, the interdepartmental commission for organizing the signing and implementation of PSAs prepared proposals for the Cabinet of Ministers regarding the winners on nine continental hydrocarbon deposits put up for auction.

According to the terms of tender documents, the Cabinet of Ministers should on the basis of the commission's conclusion approve the winners by its decision.