The Cabinet of Ministers of Ukraine is preparing to announce a new competition to attract investors for the development of two oil and gas areas – Svychan and Mezhyhirya. These sites are located in the Lviv, Ivano-Frankivsk, and Chernivtsi regions.
This is reported by Business • Media
Competition Conditions and Cooperation with the USA
It is planned that the selection of investors will be conducted under the agreement on mineral resources with the USA. As reported by the Prime Minister of Ukraine, Yulia Svyrydenko, the government has already prepared the relevant draft resolutions that regulate the conduct of the competition. A feature of the updated conditions is the provision of the right for the partner from the USA to purchase the product, as well as guarantees that no more favorable conditions will be offered to other participants.
“The conditions have been updated – with the right for the partner from the USA to purchase the product and a guarantee that no more favorable conditions will be offered to other participants. This is in line with the provisions of the American-Ukrainian agreement on the establishment of an investment fund for reconstruction,” Svyrydenko added.
Audit of Subsoil Users at Strategic Deposits
Additionally, the Prime Minister announced that she has instructed the Ministry of Economy and the State Service of Geology and Subsoil to conduct an audit of all subsoil users who have permits for strategically important deposits. The purpose of the audit is to determine which license holders are actually engaged in extraction and which are merely holding licenses without any actual activity.
According to Svyrydenko, sites that are not being used for their intended purpose will either be put into operation or returned to auction to attract new bona fide investors.