The American company will develop a hydrocarbon site in the Black Sea

The American company will develop a hydrocarbon site in the Black Sea

A commission under the Ministry of Energy and Coal Industry has selected the winner of a subsoil development competition based on an agreement on the production sharing of the Dolphin hydrocarbon section on the Black Sea shelf.

This was written on Facebook by the head of Trident Acquisitions, Ilya Ponomarev.

“I’m glad to announce that Trident won the Black Sea PSA competition today. It was a tough fight, but our application was much more profitable for Ukraine. We are grateful for the trust placed in us by the Government and personally Minister Igor Nasalik as the chairman of the Commission,” said Ponomarev.

According to him, the company will make every effort to start production as soon as possible.

Ponomarev noted that he was awaiting approval of the results of the competition by the Cabinet of Ministers. He also emphasized that the company has the opportunity to invest in the project.

“We are an American company and we cannot participate in any corruption to prove the possibility of investing the 1 billion promised by us.” We have enough other levers of influence, ”Ponomarev emphasized.

Earlier, one of the participants in the tender for the development of the Dolphin offshore section – Caspian Drilling Company – refused to participate in the tender.

Nasalik believes that the withdrawal of Caspian Drilling’s application to Somrap is related to pressure from Azerbaijan by the Russian Federation.

As Ukrinform reported, on April 12, the government decided to hold a tender for the right to produce hydrocarbons within the Dolphin site, under the terms of a production sharing agreement. A site with an area of almost 10 thousand square meters proposed by world and Ukrainian companies. km prepared by the State Service of Geology and bowels of Ukraine and is located in the northwestern part of the continental shelf of the Black Sea.

The head of the State Geological Survey Oleg Kirilyuk said that holding such a competition means attracting at least UAH 1.5 billion of investments in the search and production of oil and gas in Ukraine. And for the investor this is an open tender, the term of the agreement is 50 years with the right to extend.

According to the terms of the competition, the state’s share in profitable products should be at least 11% of its total volume, and the maximum investor’s share should be 70% of total production. The winner of the tender for the development of the site will have to provide a geological study of the subsoil on the site, including the drilling of five wells during the first five-year stage of exploration.

Four applications were submitted for participation in the tender for the right to produce hydrocarbons at the Dolphin site in the Black Sea under a production sharing agreement: from Caspian Drilling International Ltd., Frontera, Trident BlackSea and Ukrainian CJSC Ukrnefteburenie.

Trident Black Sea is 90% owned by the American Trident Acquisitions Corp., established in 2016 as a specialized company for targeted mergers and acquisitions. Among its shareholders is former State Duma deputy Ilya Ponomarev. In 2018, the company conducted an IPO on the US stock exchange NASDAQ and raised $ 201.25 million. These funds should be invested in energy assets in Eastern Europe.


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