Applications for the largest deposit on the shelf of Ukraine were submitted by 4 companies
The Interdepartmental Commission for the Organization of the Conclusion and Implementation of Product Sharing Agreements (PSA) received four applications for participation in the competition for the development of the Dolphin site under the terms of the Product Sharing Agreement (PSA) on the Black Sea shelf.
Applications were submitted by four companies:
1. Caspian Drilling International Ltd, which is part of the Azerbaijani state oil and gas corporation SOCAR;
2. Frontera Resources is an American company of businessmen Steve Nikandros and Zaza Mamulaishvili, which initiated the competition. Works in Georgia and Moldova. However, she has not yet implemented any major project;
3. Trident Black Sea, one of the founders of which was the former deputy of the State Duma of the russian federation Ilya Ponomarev. In 2014, he voted in the State Duma of the russian federation against the annexation of Crimea by russia, and now lives in Ukraine;
4. Ukrainian PJSC "Ukrnaftoburinnia" of oligarch Ihor Kolomoiskyi, people's deputy Vitaly Khomutynnyk and russian businessman Gennadii Fuks.
At the same time, the Minister of Energy and Coal Industry Ihor Nasalik, based on the results of the meeting of the interdepartmental commission on PSA, stated that the tender for the development of the "Delfin" hydrocarbon area on the Black Sea shelf may be re-announced if the analysis of the applications submitted on June 12 shows that the contestants were unable to submit them develop the deposit.
"If I, as the head of the commission, see that the companies are not able to develop the plot, I will announce a new competition," the minister said.
As reported earlier, the President's Administration offered to continue the tender for the development of hydrocarbons within the "Delfin" area on the Black Sea shelf under the terms of a production sharing agreement (PSA), noting the possible non-transparency of the tender and too short deadlines for submitting applications for participation in it.
It will be recalled that on March 6, the Cabinet of Ministers announced a tender for the development of hydrocarbons within the "Delfin" area on the Black Sea shelf under the terms of a production sharing agreement (PSA).
According to the terms of the competition, the term of PSA is 50 years. The winner of the competition must provide a geological study of the subsoil on the site, including the drilling of at least five wells during the first stage (five years) of geological exploration.
The minimum amount of investments to be made in this period will be determined based on the results of the competition, but must be at least UAH 1.5 billion.
The maximum part of compensatory products, at the expense of which the investor can be compensated for his expenses, is 70% of the total volume of produced products. The state's share in profitable production should be at least 11% of its total volume.
We will remind you that the initiative to develop the Delfin site belongs to the company Frontera Resources, which is engaged in exploration and production of gas and oil. The total area of the site is 9,772 thousand square km.
Frontera Resources Corporation, founded in 1996, is engaged in oil and gas exploration and production. The company's strategy consists in finding prospects for hydrocarbon production in the markets of Eastern European countries, which belong to the Black Sea basin. According to the company itself, confirmed reserves of natural gas in Georgia amount to about 300 billion cubic meters. However, according to the media, the company is unprofitable, does not actually conduct industrial gas production, and has no experience in offshore operations.