Overview of the Licensing Regime for the Use of Subsoil in Ukraine in 2007
Article from: OGEL 3 (2008), in Eurasian Energy
Introduction
Ukraine has two alternative regimes for the use of subsoil: the Licensing Regime and the production sharing agreements regime (the "PSA Regime"). This article is devoted exclusively to the Licensing Regime, including its legislative and practical aspects in 2007 and the prospects for its development in 2008, with special emphasis on its applicability to foreign investors in the oil & gas sector. There are serious and on-going flaws in the legislative basis for the Licensing Regime, as well as in its practical application. Despite these flaws, the Licensing Regime exists ...