The Black Sea shelf licenses will be granted to Naftogaz without a competition
Minister of Environmental Protection and Natural Resources Roman Abramovsky said that shortly a decision will be made to transfer the Black Sea shelf licenses to the state-owned company Naftogaz of Ukraine NJSC without a competition. He said this in an interview with Focus.
"We are discussing transferring the Black Sea shelf and deep-water licenses to Naftogaz for 30 years for exploration and development. I think there will be a decision on this shortly. We understand that there are political and economic risks associated with the operations in the Black Sea. Also, the price of gas is growing, but it has not yet become attractive for investment to develop fields at a considerable depth. Naftogaz will conduct a 3D seismic survey, after which it will attract investors. There are similar discussions regarding other oil and gas fields, they need to be evaluated and, possibly, commissioned into production," Abramovsky said.