Cabinet of Ministers of Ukraine agreed to Yuzivska gas field PSA with Yuzgas and Nafta

The Cabinet of Ministers of Ukraine has agreed to transfer 90% of the rights of the Nadra Yuzivska company as per PSA agreement on Yuzivska gas field to Yuzgaz B.V. and Nafta (Slovakia) as investor-operator of the project. This was stated today by project participants at a press conference in Kyiv. According to RBC-Ukraine, Nafta guaranteed full accomplishment of Yuzgaz’s prior commitments to drill 15 wells at Yuzivska gas field for $ 200 million.

By way of reminder, in January 2013, the PSA on Yuzivska gas field was signed with Shell. However, at the end of 2014 Shell was unable to accomplish due exploration of this gas field because of military hostilities in Donbas. In September 2015, Shell completely withdrew from the project. In 2016, The Cabinet of Ministers of Ukraine held a new PSA tender, which was outcompeted by Yuzgas. But shortly afterwards, due to scandal and accusation in nontransparency of the PSA tender, Yuzgas was stripped of the Yuzivska gas field PSA award.

13:29 / 22 December, 2018

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