The Ukrainian government will audit all subsoil users at strategic deposits to reclaim inactive licenses for auctions and attract investments, including American ones.
Source: OBOZREVATEL
This was announced by Prime Minister Yulia Svyrydenko. She emphasized that the audit will help determine who is actually engaged in extraction and who holds licenses without activity, blocking the sector’s development.
“We plan to check who is really working and who is holding licenses without extraction. Such sites must either deliver results or return to auction for honest investors,” Svyrydenko stated.
In addition to the audit, the government will relaunch tenders for the Mezhyhirsk and Svichansk sites with new conditions, including:
- the right of a U.S. partner to purchase the produced resources;
- a guarantee that other participants will not be offered more favorable conditions.
These changes are provided for by the U.S.-Ukraine agreement on the creation of an investment reconstruction fund and are intended to stimulate the development of the extractive industry and enhance Ukraine’s energy independence.