Americans are eager for Ukrainian mineral resources
A meeting took place between the Chairman of the State Service of Geology and Subsoil of Ukraine (Gosgeonedra) Oleg Kirilyuk and the management of American companies SigmaBleуzer, Aspect Holding and Energy Transfer, which are interested in investing in the mining industry in Ukraine, a PolitNavigator correspondent reports.
About it reported the press service of the State Geonedra.
During the meeting, the Chairman of the State Agency for Geology and Mineral Resources informed business representatives about how transparency and equality will be ensured for all applicants when holding tenders for the right to subsoil extraction.
Let us remind you that recently the Ukrainian government has significantly simplified the rules and conditions for doing business in the mining industry. Kirilyuk also invited potential investors to consider the subsoil areas that were prepared today by geologists of the State Geological Service for sale at auction.
“The State Geological Department of Ukraine is extremely important to support in strengthening and increasing the efficiency of the extractive industry. Today we can offer up to 50 promising oil and gas areas on the shelf and onshore. It is also planned to announce a competition for obtaining licenses under the terms of a production sharing agreement (PSA) in the near future,” Kirilyuk emphasized.
To which representatives of American business informed about their intentions and investment plans for the search and production of hydrocarbons.
“We are interested in cooperation in your country. We have been studying the potential of Ukrainian subsoil for a long time, especially in the field of oil and gas extraction. Our company’s strategy is to develop sites where industrial production has never been carried out under the terms of a production sharing agreement. We are interested in areas larger than 500 square meters. km under PSA terms. At the first stage, we are ready to invest $100 million. We are ready to bear joint liability for the obligations provided for in such an agreement to ensure our long-term rights in accordance with Ukrainian legislation. We will pay taxes and share extracted products with the state for the use of subsoil. I hope that if we do this, many will follow us,” said Michael Blazer, president of the investment company SigmaBleyzer.
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