Photo from UNIAN
The area of the section tendered is almost 10,000 square meters.
Ukraine's Subsoil Users Association says four companies have submitted their applications to win rights to extracting hydrocarbons on the Black Sea shelf within the Dolphin section.
In particular, this is Caspian Drilling International Ltd, Ukrnaftoburinnya, Frontera Resources, and Trident Acquisitions, the Association wrote on Facebook on June 13.
Earlier, Head of the Ukrainian Presidential Administration Andriy Bohdan called on the Cabinet to extend the deadline for accepting bidding applications for another 60 days, as the 60-day deadline determined is not enough for high-quality preparation of applications and ensuring a full-fledged tender.
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As UNIAN reported earlier, in April, the State Service of Geology and Mineral Resources of Ukraine announced a tender related to the Dolphin hydrocarbon section located in the northwest of the continental shelf of the Black Sea, which can attract at least UAH 1.5 billion ($56.8 million) in investment into the country's oil and gas exploration and production.
The area of the section tendered is almost 10,000 square meters. The term of the agreement has been set at 50 years with the right of renewal.
The share of the state in profitable produce shall be at least 11% of its total volume, while the maximum share of the investor shall be 70% of the total output.