As part of the US-Ukraine mineral deal, the government is seeking investors to develop two oil and gas fields in the western part of the country.

The Cabinet of Ministers plans to announce a new competitive search for investors who are willing to sign agreements for the distribution of hydrocarbons that will be extracted from two oil and gas fields in Ukraine – Svichanska and Mezhyhirska – located within the Lviv, Ivano-Frankivsk, and Chernivtsi regions, said Prime Minister Yulia Svyrydenko. To this end, draft government resolutions have been prepared, which state that these competitions will occur under the framework of the mineral deal with the US.

“The terms have been updated – with the right of the US partner to buy out the products and a guarantee that other participants will not be offered more favorable terms. This is the implementation of the provisions of the US-Ukrainian agreement on the creation of an investment fund for reconstruction”, Svyrydenko added.

The head of government also mentioned that she has instructed the Ministry of Economy and the State Service of Geology and Subsoil to audit all subsoil users with permits for strategically important deposits.