Cabinet approves results of tenders for PSA on nine hydrocarbon deposits

15:28, 05.07.2019 1 min read

The Cabinet of Ministers of Ukraine on July 5 approved the results of tenders for signing production sharing agreements (PSA) on nine hydrocarbon fields.

During a government meeting, Prime Minister of Ukraine Volodymyr Groysman said that the Cabinet was taking all steps to hold open tenders for subsoil use. This will allow the country to realize the strategic goal of abandoning gas imports with full reorientation towards domestic gas consumption.

"We are doing concrete things to solve this problem: to increase production of Ukrainian gas and not to buy it abroad. This solution in point 5.2.2 today brings us closer to this goal," he said.

As reported, at the end of 2018 the Cabinet of Ministers decided to hold 12 tenders for the development of hydrocarbon fields on the basis of PSAs. On February 28, the interdepartmental commission on organizing the signing and execution of PSAs began accepting applications on nine deposits, while on May 28 it received 22 applications.