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Ukraine signs two PSAs for Hrunivske and Okhtyrske hydrocarbon areas with EP Ukraine
KYIV. Nov 9 (Interfax-Ukraine) – Ukraine and EP Ukraine B.V. (the founders are Czech-based EP Power Europe and Slovak-based NAFTA) signed a production sharing agreement (PSA) within the Hrunivske and Okhtyrske hydrocarbon deposits for 50 years.
According to the Ministry of Energy, First Deputy Minister Yuriy Vlasenko signed the agreement on behalf of Ukraine, and Lubomir Kopcik on behalf of the investor company.
The signing ceremony took place in the presence of Energy Minister Herman Haluschenko, Slovak Ambassador Marek Safin and Czech Ambassador Radek Matula.
According to the Ministry of Energy, investments in these two transactions will amount to about UAH 1.5 billion.
Earlier, the Cabinet of Ministers of Ukraine by resolutions No. 1405-r and No. 1406 of November 5, 2021, approved the terms of two PSAs within the Hrunivske and Okhtyrske hydrocarbon areas with EP Ukraine. The State Service of Geology and Subsoil of Ukraine was appointed as the authorized body for the implementation of the agreements.
At the same time, the order on signing a PSA with York Energy (UK) Holdings Limited (Great Britain, a subsidiary of American-based Alpha Energy) for the Ichnianske deposit has not yet been made public.
As reported, tenders for the Hrunivske, Okhtyrske, Ichnianske hydrocarbon fields were announced in August 2019. In the spring of 2020, the government approved EP Ukraine B.V. (the Netherlands, a subsidiary of Czech-based EPH Group) as the winner of tenders for the Hrunivske and Okhtyrske hydrocarbon blocks, and York Energy (UK) Holdings Limited – on the Ichnianske block.
