CABINET OF MINISTERS TO HOLD TENDERS FOR HYDROCARBON PSA'S (Production Sharing Agreements)
Result of an initiative by USUBC [U.S.-Ukraine Business Council], SigmaBleyzer and Navigator ComplectInterfax-Ukraine, Kyiv, Ukraine, Tuesday, December 18, 2018 (open the document) Interfax_1218ece1.doc
Ukrrudprom, Kyiv, Ukraine, Tuesday, December 18, 2018
KYIV, Ukraine - On Tuesday, the Cabinet of Ministers of Ukraine approved resolutions on holding more than a dozen open tenders for the conclusion on Production Sharing Agreements on hydrocarbon (PSAs). According to The Prime Minister Volodymyr Groysman the Cabinet of Ministers’ is to finalize and issue the documents within the specified term in accordance with the procedural rules and the results of the discussion at the meeting.
The agenda included resolutions on mining within 11 fields: Grunevsky, Varvinsky, Rusanovsky, Akhtyrsky, Buzovsky, Zenkovsky, Ivanovsky, Ichnyansky, Balakleysky, Sofiyevsky and Berestyansky.
For the first 10 fields the initiative to hold such tenders belongs to the U.S.-Ukraine Business Council (USUBC) and the investment company SigmaBleyzer, in the latest field - to the Ukrainian Navigator Complect LLC.
According to the Minister of Energy and Coal Mining of Ukraine, Ihor Nasalyk, a PSA will be put up for the tender also for the Ugnovsky field. He stated, these deposits are located in Ivano-Frankivsky, Lvivsky, Poltavsky, Chernihivsky, Sumsky and Kharkivsky regions.
As reported earlier, on its meeting on August 16, 2018, the Interdepartmental Commission on the conclusion and implementation of the PSA has approved draft resolutions on the holding of 12 tenders for hydrocarbon PSAs.
SigmaBleyzer is based in Houston (Texas, USA) and has been operating in private investments in Ukraine for more than 25 years. Company has made more than 100 investments in a wide range of sectors, including energy, cable TV, food and beverages, agriculture, retail. According to the company’s website, SigmaBleyzer currently manages over 1 billion $ through 6 investment structures.
At the end of June 2018, The State Service of Geology and Mineral Resources of Ukraine has announced that SigmaBleyzer is ready to invest $ 100 million in hydrocarbon production in Ukraine within Production Sharing Agreements (PSAs).
"We have studied the potential of Ukrainian resources for a long time, especially on its domestic oil and gas extraction. Our company's strategy is to develop fields where industrial production has never happened before... We are interested in areas over 500 sq. km within the PSA conditions. At the first stage we are ready to invest 100 million $ ", - the press-release quoted the president of the investment company Michael Bleyzer after the meeting of the SigmaBleyzer, Aspect Holding and Energy Transfer companies Heads with the Deputy Head of the State Service of Geology and Mineral Resources of Ukraine Oleg Kirilyuk.
LINK: Interfax Ukraine -Interfax_1218ece1.doc