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Artem Petrenko, the Association's Executive Director, participated in a Continental Europe Energy Council (CEEC) meeting held in Albania. This organization unites leading oil and gas production companies in Central and Eastern Europe and the Caspian region.
During the CEEC meeting, the head of the AGPU discussed the opportunities for cooperation in the gas production sector that Ukraine can offer investors.
- First and foremost, owing to the subsoil use reform (Law of Ukraine 2805-IX), investors can purchase an existing license along with a work program and start operations immediately. For the first time, the state introduced such a practice and did it during a full-scale war, demonstrating its serious intentions to attract new players to develop Ukraine's subsoil.
- Considering their expertise, capabilities, and the amount of investment, companies can acquire licenses for subsoil use via e-auctions, which offer small-sized plots, or through the PSAs, which involve large-scale and complex oil and gas projects that require significant investments and experience.
- Gas producers can cooperate with existing subsoil users on projects related to increased production, drilling, and exploration of deposits. This includes Production Enhancement Contracts (PEC), Risk Service Agreements (RSA), and partnerships in subsoil use projects.
For more information, you can refer to Artem Petrenko's presentation via the following link: http://surl.li/lvhbc