In a landmark move for the Ukrainian energy sector that international investors have long waited for, Ukraine has announced the first online auctions for oil and gas sharing agreements.
The initial licensing round will feature ten blocks in six regions of Ukraine, nine of which cover the exploration and production of hydrocarbons for a twenty-year period, with the remaining parcel for a five-year exploration period.
Potential bidders now have ninety days to register and submit their applications. The first online auction is set to take place on 6 March 2019 via the Ukrainian government’s Prozorro.Sales digital auction platform.