Service of Geology and Subsoil announced tenders for the sale of 9 special permits for oil and gas fields

The State Service of Geology and Subsoil of Ukraine announced auctions for the sale of 9 special permits for oil and gas fields.

Subsoil users were offered eight special permits for geological study of oil and gas-bearing subsoil, including research and industrial development, followed by oil and gas production, as well as one to produce natural gas and condensate. The facilities are in Dnipropetrovsk, Ivano-Frankivsk, Lviv and Poltava regions. The total starting cost of lots is UAH 890.5 million. The term for subsoil use is 20 years.

"Competitive competitions are held in real time when everyone can watch the submission of price offers. The winner is determined by the system, there is no subjective factor in making such a decision," the State Service of Geology and Subsoil said in a statement.

A complete list of lots put up for the fifth auction in 2022: