Ukraine's subsoil sector presents a compelling, large-scale opportunity, driven by vast resource potential that is capturing significant global attention. The country holds proven, significant reserves of both traditional and critical minerals, including highly sought-after deposits of iron ore, gas, titanium, and lithium. As Ukraine rebuilds, the strategic development of these resources is not just a domestic priority – it is a foundational, timely opportunity for global partners.
Ukrainian legislation provides for the implementation of subsoil projects through the conclusion of production sharing agreements (PSAs). Through the PSA mechanism, Ukraine offers highly favourable conditions for investors engaged in resource development.
Our guide provides a clear, comprehensive roadmap for navigating the entire PSA lifecycle, from tender to implementation.
We explain the legal architecture and provide actionable answers to the critical questions investors face. The guide covers:
- Tender Participation: How to qualify, which minerals are available, and a clear look at announcement and evaluation criteria.
- The Negotiation Process: A step-by-step guide from tender award to the final signing of the PSA.
- Government Roles: Understanding which state authorities represent Ukraine and how they interact with investors.
- Core Contract Terms: A deep dive into agreement duration, work programs, cost recovery rules, local content requirements, and governing law.
- Project Lifecycle: Navigating the exploration and production phases, including access to geological data and rules on acreage relinquishment.
- Production and Cost Sharing: The mechanics of profit sharing, defining recoverable expenses, and how the state's share is administered.
- Stability Guarantees: The operation of stabilisation clauses in the event of legislative changes and applicable exceptions.
- Property & Exit Strategy: Clarifying asset ownership rules, decommissioning obligations, and formal termination procedures.
- Transfers & Disputes: Rules for investor replacement and change of control, plus a full overview of legal protections and dispute resolution mechanisms, including international arbitration.
To receive the Guide, please fill out the form (link). We will not send you any automatic marketing information.
To receive advice on the PSA, please contact Oleg Alyoshin, Partner, or Yulia Adamovych, Associate.