Details of Ukraine’s first 10 oil and gas leases up for electronic auction are now on the ProZorro platform.

Details of Ukraine’s first 10 oil and gas leases up for electronic auction are now on the ProZorro platform. Auctions are to be held in the first quarter of 2019, says Stepan Kubiv, Minister of Economic Development and Trade. Nine licenses are for exploration and production over 20 years. One license is for exploration over five years. Covering a total area of 1,810 square kilometers, the lots potentially hold 86 billion cubic meters gas and 115 million barrels of oil. Oleg Kirilyuk, head of the State Geological Service, says that later in the year, 20 more leases, covering a total of 3,200 square kilometers, will be auctioned through ProZorro.