Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Pt.2
Four companies have applied for participation: the American Trident Acquisitions Corp, the American Frontera Resources Corporation, which owns the initiative to develop the Dolphin site for PSAs, controlled by the State Oil Company of the Republic of Azerbaijan (SOCAR) Caspian Drilling International Ltd. and one of the largest private gas producing companies in Ukraine, Ukrnaftoburinnya.
After that, Prime Minister Volodymyr Groysman said that the competition for gas production on the Black Sea shelf did not live up to expectations regarding the arrival of powerful world-class players on the Ukrainian market, so a new competition should be announced.
On August 1, Frontera Resources challenged the results of the tender for a production sharing agreement (PSA) for the development of the Dolphin hydrocarbon section on the Black Sea shelf in the District Administrative Court.
In September 2019, the Cabinet of Ministers adopted a decision to cancel the competition for the conclusion of an agreement on the division of hydrocarbons that will be produced within the Dolphin site.
Earlier, the head and co-owner of Trident Acquisitions, an American company that won the competition for the development of the Dolphin site, Ilya Ponomarev announced plans to challenge the decision of the Cabinet of Ministers in court to announce a new contest for the development of this hydrocarbon site."
Source -https://mbiz.censor.net.ua/news/3177516/shelfovoe_mestorojdenie_delfin_razdelyat_na_dve_chasti_gosgeonedr_obnovleno
Lots of Russian articles today about Dolphin. They are mostly saying the same thing. This article seems to be more detailed and is almost the only one that doesn't have the words "dubious company" in front of Frontera Resources
Pt.1
This was announced by the head of the State Service for Geology and Subsurface Resources Roman Opimakh during the presentation of the results of the service in 2019, the Business Censor reports with reference to Interfax-Ukraine.
"At present, based on the results of negotiations with geologists, potential investors, and those who own geological information, we decided that the most optimal design of the shelf proposal would be just two sections," said Opimakh.
The head of the State Geological Survey said that, in particular, we are talking about "North Dolphin" and "South Dolphin" with a total area of ??15 thousand square meters. km
“For these two sites, we definitely have seismic information, a list of which we are currently collecting. We have it at the state-owned enterprise Ukrgeofizika, Nauka Naftogaz NAK Naftogaz Ukrainy, and also at the international company Schlumberger. Actually, it is with Schlumberger and Duff & Phelps, we have signed memorandums and the NDA. We will jointly try to find investors, both foreign and Ukrainian, to implement this project, "said Opimakh.
The head of the State Geological Survey clarified that the start of this process could be given in March, when the government plans to approve competitive conditions. After that, the inter-commission for organizing the conclusion and implementation of the PSA will have two months to prepare and start the competition. After the announcement of the competition, investors will have six months to study the information on the sites.
"We propose that the volume of investment for each site be at least $ 60 million, that is, these are the minimum obligations, but this is still in the process of discussion," added Opimakh.
According to the head of the department, there is another potential site on the shelf, however, a competition for it is not currently being considered due to the fact that the area is not yet sufficiently explored.
See also: Zelensky called on US companies to participate in the competition for the Black Sea shelf (updated)
As previously reported, Minister of Energy and Environmental Protection Aleksey Orzhel announced earlier that the Dolphin offshore oil and gas field in the Black Sea could be put up for tender in several lots to attract as many international companies as possible to gas production in Ukraine.
The competition for the development of the Dolphin site is planned to be announced in March 2020.
Recall that in 2019, Trident Black Sea was recognized as the winner of a development tender based on an agreement on the production sharing of the Dolphin hydrocarbon section on the Black Sea shelf under PSA conditions. The agreement is valid for 50 years.