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Cabinet grants licenses to Naftogaz to explore for oil in Black Sea
Journal Staff Report

KYIV, Nov 25 - The Cabinet of Ministers at a meeting on November 25 adopted a resolution on amendments to the procedure for granting special permits for the use of subsoil, which granted Naftogaz Ukrainy the right to explore and produce oil and gas on the Black Sea shelf without holding an auction.

"This decision will allow to increase its own production of natural gas, create jobs, fill both local and state budgets of Ukraine. The main thing is that the company will be able to start developing the shelf immediately after the adoption of the normative act and passing the procedure," Minister of Environment Protection and Natural Resources of Ukraine Roman Abramovsky said.




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