Ukraine needs investment and gas, but the doors are locked and there is no one to talk to - Kobolyev

The Head of Naftogaz, Andriy Kobolyev, once again draws attention to the delay in the process of concluding production sharing agreements (PSAs), according to his Facebook page.

Recall that Ukrgasvydobuvannya JSC, part of the group of companies of Naftogaz of Ukraine NJSC, together with the Canadian Vermilion won PSA tenders for 4 oil and gas areas more than a year ago, but contracts for work on these areas have not yet been signed.

The head of Naftogaz noted:

“Together with our partner, we are ready to invest UAH 3.6 billion in the development of Balakliyska, Ivanivska, Berestyanska and Buzivska areas over five years. Potential reserves in these areas are estimated at about 50 billion cubic meters.

This is exactly the kind of Ukrainian-foreign investment that attracts international experience and technologies for Ukraine’s energy independence. The only fly in the ointment is that we won the tender over a year ago. But we still can’t even sign a contract to work on these areas.

Over the past year, we and other winners of the tenders have repeatedly met with representatives of the government (I think each time with new ones) and unsuccessfully tried to agree on the texts of the agreements.

In fact, the absence of a single responsible and authorized person indescribably delays any agreement."

18:05 / 24 July 2020

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