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Kiev attracts foreign investors with PSA tenders

Ukraine has started to attract international oil and gas players to its territory with its most recent auctions Ukraine has started to attract international oil and gas players to its territory with its most recent auctions.
By Silvia Favasuli 18 June 2019 Europe & Russia / Exploration & Production 0 34317
Shipping in Ukraine's section of the Black Sea. (PA)

After a disappointing start, Ukraine’s efforts to attract foreign players to its upstream sector are bearing fruit. The country’s recent offerings have started delivering the desired results, with several foreign players submitting applications.

Ukraine’s state geological service (SGSU) has launched three international concession auctions over the past seven months with the aim of awarding 20-year exploration and production licences for onshore areas covering a total of 400,000 hectares.

In addition, the SGSU has opened two public tenders for production-sharing agreement (PSA) blocks with a...