In Re (#03 March 2013)

Production Sharing Agreements as the Most Efficient Legal Regime for Subsoil Use in Ukraine

Armen G. Khachaturyan, Tamara V. Lukanina, Yaroslav A. Petrov

In 2012 the Ukrainian Government held 3 tenders on execution of production sharing agreements (the PSA) for hydrocarbons to be recovered at 2 onshore and 1 offshore blocks. As a result of these tenders, Shell won the tender for the Yuzivs’ka block (Eastern Ukraine), Chevron — for the Oles’ka block (Western Ukraine) and the consortium consisting of ExxonMobil, Shell, OMV and PJSC NAK Nadra Ukrayny — for the offshore Skifs’ka block (the Black Sea). On 24 January 2013 the PSA regarding the Yuzivs’ka block between Ukraine, Shell Exploration and Production Ukraine Investments (IV) B.V. and Nadra Yuzivs’ka LLC was executed in Davos…

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