Ukrainian Law on the Exploration and Production of Oil and Gas and Other Natural Resources

摘要

The right to enter into a PSA is usually awarded on the basis of a tender, and may be done so only if the proposed site is within an area previously approved for PSAs. The decision to hold a PSA tender must be taken by the Cabinet of Ministers of Ukraine, and should indicate, inter alia, the particular subsoil area involved, the terms for the works, the required investment and the tender procedure. The Permanent Commission must approve the tender documentation, and then publish it in specified official Ukrainian periodicals as well as foreign mass media. The period between the tender notice publication and the deadline for the submissions of tender applications should not be less than three months.