Tender terms for Ukraine’s first petroleum sharing agreements since 2012 will be released in two weeks

Tender terms for Ukraine’s first petroleum sharing agreements since 2012 will be released in two weeks, reports Drilling for the web site. Companies will have until mid-May to submit applications. The 12 PSAs are expected to be valid for 50 years. To stimulate investment, winners will have to spend $16 to $36 million in the first five years on seismic research and exploration wells. Foreign companies are encouraged to bid.