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Business-community is concerned about the situation with getting special permits on the local level

16/ 06/ 2017
  In practice, this issue is crucial for companies of gas producing industry and companies using subsoil as operation elements. Moreover, failure to provide approval by local authorities may risk in non-fulfillment of approved by the Government Concept on increasing natural gas extraction up to 27,6 bill. cu.m. till 2020. President of Arab Energy Alliance, Mr Raid Bu-Khamseen comments on the issuing of licenses in Poltava region: “We are extremely concerned about the current situation, when from November 2016 the Poltava Regional Council does not consent to the issuance of a license for the industrial development of the North Yablunivska Square. Foreign investments in research and industrial development of the field amounted to about USD 25.3 million, and total investment in Ukraine assets for 10 years amounted to almost USD 80 million. Adopted by the Verkhovna Rada of Ukraine the Draft Law #3038 on redirection to the local budget of 5% of the amount of rent payments received, from our perspective, should serve as a benchmark for the companies` contributions to the development of the infrastructure of the region under social agreements.”

In practice, this issue is crucial for companies of gas producing industry and companies using subsoil as operation elements.

Moreover, failure to provide approval by local authorities may risk in non-fulfillment of approved by the Government Concept on increasing natural gas extraction up to 27,6 bill. cu.m. till 2020.

President of Arab Energy Alliance, Mr Raid Bu-Khamseen comments on the issuing of licenses in Poltava region:

“We are extremely concerned about the current situation, when from November 2016 the Poltava Regional Council does not consent to the issuance of a license for the industrial development of the North Yablunivska Square. Foreign investments in research and industrial development of the field amounted to about USD 25.3 million, and total investment in Ukraine assets for 10 years amounted to almost USD 80 million.

Adopted by the Verkhovna Rada of Ukraine the Draft Law #3038 on redirection to the local budget of 5% of the amount of rent payments received, from our perspective, should serve as a benchmark for the companies` contributions to the development of the infrastructure of the region under social agreements.”

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