Ukraine announce PSA tenders for Skifska and Foroska offshore oil and gas blocks

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On 23 May 2012 the Cabinet of Ministers of Ukraine (CMU) adopted two Resolutions on Holding Tenders for the Award of Production Sharing Agreements (PSA) for the Extraction of Hydrocarbons within the Foros and Skifska Areas (Resolutions No. 454 and No. 455 respectively, hereinafter the “Resolutions”). The Resolutions became effective on 30 May 2012 and contain the main conditions on which the PSA tenders for the above mentioned areas will be held.

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