Baker McKenzie has advised EP Ukraine on the structuring, negotiating, and entry into two production sharing agreements with the Ukrainian government in relation to the Okhtyrska and Hrunivska blocks.
EP Ukraine is a Dutch subsidiary of Czech Energeticky a Prumyslovy holding (EPH) and Slovak NAFTA a.s. EPH is a Central European energy group that owns and operates assets in the Czech Republic, Slovakia, Germany, Italy, Ireland, the UK, France, and Switzerland. EPH is a vertically integrated energy utility covering the complete value chain, ranging from highly efficient cogeneration, power and heat generation, natural gas transmission, and gas storage to gas, heat, and electricity distribution and supply.
According to Baker McKenzie, “the production sharing agreements, signed on November 8, 2021, relates to petroleum products. They cover two separate areas of over 1,700 square kilometers in total in northeast Ukraine and represent an extensive investment program, including, in the first stage, the realization of seismic measurements and drilling of a significant number of exploration wells. Total investments are expected to reach dozens of millions of US dollars.”
The Baker McKenzie team was led by Counsel Andrii Moskalyk.
Baker McKenzie did not reply to our inquiry on the matter.