Svyrydenko launches Subsoil Agreement with the US – will start with audit of extractive companies
14 August 13:57
Prime Minister of Ukraine Yulia Svyrydenko has instructed the Ministry of Economy and the State Service of Geology and Subsoil to audit all subsoil users who have received permits for strategically important fields. She wrote about this in Telegram, "Komersant Ukrainian" reports.
“We plan to check who is actually working and who holds licenses without production. Such facilities must either produce results or return to the auction for bona fide investors,”
– Svyrydenko said.
It was also decided to restart the tenders for hydrocarbon distribution at Mezhyhirska and Svichanska fields. The conditions were updated with the right of the US partner to buy out the products and a guarantee that other participants will not be offered more favorable conditions.
According to the Prime Minister, this is the fulfillment of the provisions of the US-Ukraine agreement on the establishment of an investment fund for reconstruction.
Читайте нас у Telegram: головні новини коротко
Agreement on subsoil between the US and Ukraine
on April 30, Ukraine and the United States signed an agreement on cooperation in the field of natural resources. The centerpiece of this agreement was the creation of a joint investment mechanism to attract international funds for Ukraine’s recovery.
The document guarantees Ukraine’s full sovereignty over its natural resources. The Ukrainian state retains exclusive ownership rights to all mineral resources both on land and in marine waters. Decisions on the locations and methods of extraction are made exclusively by the Ukrainian government.
The investment fund will operate on a parity basis – both countries will have equal shares and equal rights in its management. This ratio is intended to ensure a balanced partnership without dominance of one of the parties.
The agreement does not address privatization or reorganization of state-owned enterprises. Large energy companies, such as Ukrnafta and Energoatom, continue to be state-owned. The agreement also does not create any debt obligations of Ukraine to the US side, is in line with the Basic Law of the state and does not contradict the course of European integration.
Limited partnership agreement
Along with the agreement, another document was signed – a limited partnership agreement, the content of which remains unclear. The MPs ratified the subsoil agreement without knowing the provisions of this related agreement. It was reported that this document describes the legal mechanism of a limited liability partnership between the United States Corporation for International Development (USAID-affiliated entity) and the Ukrainian Agency for the Support of Public-Private Partnerships.
This document has not yet been published.
Читайте нас у Telegram: головні новини коротко
