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08 july 2019 year

Ukrainian Energy L.L.C. Has Been Announced Among the PSA Winning Bidders

In 2019, Ukrainian Energy L.L.C. has participated in and won a tender for execution of a production sharing agreement on hydrocarbons to be produced within the Varvynska Block, which is located in Poltava and Chernihiv regions.

This block is a large underexplored area that requires an in-depth exploration using modern 3D seismic technology. Based on the results of 3D seismic and in the event of commercial discovery, the Company is intent on proceeding with well-drilling and production of hydrocarbons, which will allow to increase the total petroleum production in Ukraine and reach the necessary level for implementation of energy independence.

For more information, please refer to the Decree of the Cabinet of Ministers of Ukraine on Determination of Winners of Tenders on Execution of Hydrocarbons Sharing Agreements available at: https://www.kmu.gov.ua/npas/pro-viznachennya-peremozhciv-konkursiv-na-ukladennya-ugod-pro-rozpodil-vuglevodni-m-050719

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