March 6, 2019 is the auction27 Feb 2019 19:13
On the next week will be the 1st auction.I hope Regal to have the opportunity to acquire one or more fields(total 10).The start price is 0.7 mil $.The results i suppose to be in the same day.
1st INTERNATIONAL OIL AND GAS
LICENSING ROUND IN UKRAINE
The State Geological Service of Ukraine released 30 onshore petroleum blocks for
sale in online auctions at the public trading platform Prozorro.Sale. The total acreage
of blocks is 4 630 sq. km.
The concession blocks will be auctioned in a series of licensing rounds. All parcels are
located in proven petroleum provinces with well-developed midstream infrastructure
and widely covered by geophysical surveys.
In the first round, announced on December 6, 2018, ten blocks were offered in five
regions of Ukraine, covering over 1 810 sq. km. Licenses for nine of those promising
blocks are proposed for exploration and production of hydrocarbons for a period of
20 years. The remaining parcel is for a 5-year exploration period.
The undiscovered prospective resources of ten blocks are officially estimated at 86,25
billion cubic meters of natural gas and 16,29 million tons of liquids. One block holds
developed proven oil and gas reserves.
The initial price of most of the licenses is not exceeded USD 0.7 million. The company
which submits the highest bid in terms of cash bonus will be awarded lease rights for a
specific parcel.
There are also minimum exploration program requirements for each license, for
instance: processing of legacy seismic data, conducting new seismic surveys and
exploration drilling.
Bidders will have ninety calendar days to decide and submit their applications. The first
online auction will take place on March 6, 2019.