News 2 - The Committee on Economic Policy recommends the Parliament to adopt the Bill on Amendments to the Law "On Production Distribution Agreements" (re List of Mineral Resources Sites) - Verkhovna Rada of Ukraine

The Committee on Economic Policy recommends the Parliament to adopt the Bill on Amendments to the Law "On Production Distribution Agreements" (re List of Mineral Resources Sites)

Published on 07 July 2011, at 15:04

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The bill (Reg. No. 8712) amends the Law "On Production Distribution Agreements" to exclude the list of mineral resources sites (deposits of commercial minerals) which can be provided under the production distribution agreements as such that impedes investments to the use of mineral resources and contradicts the international practice.

The committee members stated that enhancement of the laws on production distribution will attract investments to the exploration and extraction of mineral resources, and meet the strategic goals connected with energy resources. This will increase the volume of extraction of domestic mineral resources (oil and gas), and strengthen energy independence of Ukraine.

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