Ukraine has sold six petroleum licenses through online bidding

5/2/2019

KYIV, Ukraine -- Ukraine's second licensing round took place Thursday on May  2, 2019. Six of seven hydrocarbon blocks were purchased online by national producing company UGV, and a private, small Ukrainian firm.

As the initial price was raised almost twice, the winners are set to pay $3.4 million, with 100% going towards the state budget. The online trading was organized by private platform UEEX, under thew rules and criteria of public Prozorro.Sale e-system.

The first licensing round took place on March 6, 2019 and resulted in the awarding of concession licenses for three of ten blocks. The total paid amount was more than $5.2 million. Three of Ukraine’s gas producers received the licenses: Burisma Group, DTEK Oil & Gas, and UGV.

The third licensing round is scheduled for June 18, 2019 and is offering nine blocks in three regions. All concession licenses are for E&P during a 20-year period.

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