As a follow-up to the Cabinet of Minister of Ukraine Resolutions of 18 December 2018 on holding 12 oil and gas production sharing agreements (the "PSA") (more info in our newsletter), the Ministry of Energy and Coal Industry of Ukraine (the "Ministry") published announcements on launching 9 PSA tenders.
Information on the location, minimum investment requirements, minimum work program, and summary of the geological data and contact information for obtaining geological data for all 9 blocks may be found following this link.
Potential bidders have 90 days until 5.30 pm on 28 May 2019 for submission of bids to the Ministry. The winner will be announced on 28 June 2019.
The fee for participation in one PSA tender is 300,000 UAH (approx. 9,800 EUR).
The tender bid should be submitted by mail or personally by bidder or its legal representative in the Ukrainian language and should include, inter alia:
- general information on the bidder, supported by relevant documents;
- bidder's subsoil experience, technical and financial capabilities for performance of work and use of proposed technologies, supported by relevant documents;
- proposed work program;
- investment amount;
- proposed production sharing;
- obligation to train personnel and use goods, works and services of Ukrainian origin;
- proposed social development program; and
- any additional proposals relevant to implementation of tender terms.
Submitted bids will be reviewed and assessed by each member of the PSA Interagency Commission based on the following criteria: