Energy Ministry calls on Government to support key reforms in oil and gas sector

Energy Ministry calls on Government to support key reforms in oil and gas sector

Ukrinform
Energy and Coal Industry Minister Ihor Nasalyk sent a letter to the Government with a request to support key reforms aimed at attracting investments into the oil and gas sector, the Association of Ukrainian Gas Producers reports. 

"The Energy and Coal Industry Ministry took a proactive position regarding the promotion of important legislative initiatives of the industry. Ihor Nasalyk sent a letter to the Government with a request to support key reforms aimed at attracting investments into the mining industry," reads the report.

In particular, the reforms being proposed include the simplification of fiscal regime, introduction of 12% of rent for new wells from 2018. The ministry also recommends the Government to simplify conditions for allotting land plots for wells development, giving access to geological information, holding regular and transparent auctions, as well as to unify rates of rent for oil and condensate.

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