Three companies plan to invest UAH 1.6 bln in oil and gas exploration – Kubiv

Three companies plan to invest UAH 1.6 billion in geological exploration, and UAH 5 billion in drilling if deposits of gas, oil or gas condensate are confirmed.

The press service of Ukraine’s Economic Development Ministry reported this with reference to First Deputy Prime Minister — Minister of Economic Development and Trade Stepan Kubiv.

"Thanks to the electronic procurement system ProZorro.Sale, we managed to attract real investors to the auctions. Three companies plan to invest UAH 1.6 billion in geological exploration. If gas, oil deposits or gas condensate are confirmed, investments in drilling can reach UAH 5 billion," he said.

On March 6, auctions for the implementation of special permits for the use of subsoil at three sites in Kharkiv and Poltava regions were held through ProZorro.Sale. The validity of permits is 20 years. The total cost of special permits was UAH 45 million. During the auction, the cost increased to UAH 141 million.

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