Government signed a PSA for seven sites with UGV, DTEK Naftogaz, Zakhidnadraservice, and Geo Alliance

At the end of the last year (December 31, 2020, at 11:00 am) in the premises of the Cabinet of Ministers, the Prime Minister of Ukraine Denis Shmyhal and the representatives of four companies, which won the PSA competitions, signed a long-awaited production sharing agreements (PSA) for 7 oil and gas sites.

Thus, Ukrgasvydobuvannya JSC (part of the Naftogaz Group) has concluded PSAs for four areas, including Buzivska, Ivanivska, Balakliyska, and Berestyanska. DTEK Naftogaz LLC has signed a production sharing agreement for Zinkivska area, Geo Alliance LLC - for Sofiyivska, and Zakhidnadraservice as represented by Well Co LLC, for the Uhnivska area. This was reported to ExPro by the representatives of the companies.

The competitions for these PSAs were held in 2019. Representatives of the Interdepartmental Commission for the arrangement of the conclusion and implementation of production sharing agreements and investors have carried out significant systematic work to form the mechanisms for the execution of the production sharing agreements, given that a year and a half has passed since the announcement of the winners.

Later, on January 14, the government and American Aspect Energy signed a PSA for the Varvynska area (read in the Private Companies section). Another area - Rusanivska - was won by Ukrnaftoburinnya, which refused to conclude a PSA.