The National Investment Council make every effort to attract investors to the energy sector of Ukraine, - Olga Magaletska

The National Investment Council make every effort to attract investors to the energy sector of Ukraine.

Olga Magaletska, the head of the National Investment Council stated the above during a speech at the Energy Security Meeting organized by the Energy Club. Representatives of NPC UKRENERGO, Gas TSO of Ukraine LLC, the Ukrainian Energy Exchange Committee, as well as representatives of energy sector companies, attended the forum.

The Head of the Office informed the participants and guests of the forum about the positive changes that have already been made by the Ukrainian authorities, in particular, the launch of the Investment Atlas of the Subsoil User, electronic tenders and auctions.

“2019 became the record for the number of held auctions and tenders. Nine tenders were held to conclude production sharing agreement (PSA) on land with a total area of 7,200 km2 and 28 auctions for special permits. Among the winners are domestic gas companies and foreign investors. Investors pledged to invest 0.6-1.5 billion US dollars in geological exploration over the next 5 years,” Olga Magaletska said.

The Head of the Office also noted that Ukraine is ready to offer more objects for PSA auctions and tenders. In particular, in February a PSA competition for 3 land sections was held. In March, it is planned to announce PSA tenders and auctions for 3 sections on land and 2 sections on the shelf. In addition, more than 30 land plots are planned for the concession, as well as projects of the Yuzivska PSA and the Olesky PSA (open partnership with NJSC Nadra Ukraine). More than 15,000 square km on the North and South Dolphin shelf prepared for PSA bidding.

Olga Magaletskaya also noted on a positive change in the management of the State Service for Geology and Subsoil of Ukraine and emphasized that today the normative regulation of the energy sector is in line with European practices.

 

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