Chevron, Shell submit draft PSAs for Yuzovska, Oleske fields to interagency commission
Chevron and Shell have submitted draft agreements on Yuzovska and Oleske fields to the interagency commission for organization of the signing and implementation of Product Sharing Agreements (PSA), Ecology and Natural Resources Minister Eduard Stavytsky has said.
"Draft [agreements] have been received. Lawyers are working on them and actually by late September we are to sign them, according to Ukrainian law," he told journalists in Kyiv on August 21.
Nadra Yuzovska LLC and Nadra and Nadra Oleske LLC are the sides of the PSA agreements from Ukraine. The companies are joint ventures of national joint-stock company Nadra Ukrainy (90% in JV) and SPK-Geoservice LLC (10%).
The minister also confirmed that a tender to sign a PSA agreement for Slobozhanske oil and gas field will be announced in September 2012.
"The issues [with related license holders] have been settled. The coordinates have been approved. I think that by the middle of September [a decision to hold the tender will be made]," he added.
Stavytsky also said that at present the State Geological Service of Ukraine is studying the appropriateness of putting another shale gas field in Ukraine up for tender. The minister did not disclose the concrete field, adding that it is located on the territory of Dnipropetrovsk, Poltava and Donetsk regions. The final decision on the field will be made by late September.
He said that by late September a decision for the Foroske gas field on the shelf of the Black Sea, a tender for which failed to take place due the absence of bids, will be made.
"Investors asked a small break, as it is difficult to collect a sum for a deposit bid for even large companies. They asked a one-month break," the minister said.
As reported, in early May 2012 Shell won a tender to sign a PSA agreement for the Yuzovska field (Kharkiv and Donetsk regions) and Chevron won a tender to sign a PSA agreement for the Oleske field (Lviv and Ivano-Frankivsk regions).
