Ivano-Frankivsk Regional Council has refused to agree to the proposed draft production sharing agreement (PSA) to be signed between Ukraine, Chevron Ukraine B.V. and Nadra Oleska LLC for the production of fossil fuel on the Oleska field.

An Interfax-Ukraine correspondent has reported that only 40 lawmakers (out of 116) supported the agreement of the draft PSA.

The lawmakers decided not to close the issue and ordered Chairman of Ivano-Frankivsk Regional Council Vasyl Skrypnychuk to ask the Cabinet of Ministers to study proposals concerning the PSA that were elaborated by a working group created at the regional council, and then amend the draft PSA and send it back to the regional council.

The lawmakers insist that one of the parties to the agreement - a participant in the PSA project that enjoys full rights - should be founded by the territorial community of the region. The party should represent the interests of local communities of the region, and directly participate in the production sharing agreement by carrying out oversight of the realization of the project.

"The success of the project is possibly if a consensus via a civilized compromise between all the participants and sides of the agreement is reached," Skrypnychuk said.

As reported, in early July, the head of Ivano-Frankivsk Regional Council created a working group to prepare a draft PSA. The working group, consisting of 45 people, worked out 148 remarks on the draft PSA and in early August sent them to the cabinet for consideration.