Two #U.S.-based companies have declared their interest in #exploring and #producing #hydrocarbons, including #unconventional gas, under #production #sharing #agreements in the #subsoil areas in #Ukraine. The #Ukrainian #government is now considering the submitted #applications. Moreover, the companies were advised to hold consultations with respective #local #authorities in Ukraine.
Visit our website if you are interested in #doing business in Ukraine or looking for new #investment opportunities
Two US companies Frontera Resources and Longfellow Energy have recently submitted their proposals to the Ukrainian government to implement projects involving the exploration and production of oil and natural gas in subsoil areas in Odesa and Poltava regions. The works shall be performed under production sharing agreements. This was reported by the press service of the Ukrainian Ministry of Energy and Coal Industry following the meeting of the inter-department commission for concluding and implementing production sharing agreements.
In particular, on 23 June 2017, the inter-department commission for concluding and implementing production sharing agreements admitted applications from both US companies for the exploration and production of hydrocarbons, including unconventional gas, in the respective subsoil areas.
Moreover, the commission recommended that Frontera Resources considers filing a joint application with Chornomornaftogas which holds special permits for the use of certain subsoil areas that the company is interested in.
In addition, the inter-department commission started considering the application submitted by Kyiv-based Navigator Komplekt LLC regarding implementing a hydrocarbons exploration and productions project under production sharing agreement in the subsoil areas in Dnipropetrovsk, Kharkiv and Lviv regions.
The Ministry advised the three companies to hold consultations with local authorities with respect to the implementation of the oil and gas exploration and production projects.
American company Frontera Resources is active in exploration and production of oil and gas, was founded in 1996. The company is primarily operating in Eastern Europe around the Black Sea.
Longfellow Energy is a small privately owned family oriented company, which mainly engages in the exploration and development of new reserves in onshore US basins.