Overview of Ukraine's Legal Regime for Upstream Oil & Gas Sector in 2011-2012
Article from: OGEL 5 (2012), in Roundup of Articles
We have been reporting on the new developments in Ukraine's upstream oil & gas sector for many years, and 2011-2012 turns out to be the most eventful period to date. It was signified by substantive legislative changes and by regulatory reform in the area of Subsoil use, as well as by two tenders held for production sharing agreements ("PSA"). The legal regime for upstream activities in Ukraine continues to be divided into more traditional Licensing Regime, with Subsoil Licenses (referred to in legislation as "special permits" to use Subsoil) generally offered at auctions, and ...