State Service of Geology Fails to Sell Lisovitskaya Oil and Gas Block at Auction

The State Service of Geology and Subsoil failed to sell the special permit for the Lisovitskaya oil and gas block, which had a starting price of 1.108 billion UAH. No companies submitted bids for the auction on July 29, preventing the trading from taking place. At least two bids were required for the auction, but there were no registered participants. The guarantee deposit for participation in the auction was 221.6 million UAH, with a minimum bidding increment of 500,000 UAH. The special permit allows for geological exploration and extraction of oil and gas over a period of 20 years. The Lisovitskaya block covers an area of 80.11 square kilometers and is located in the Stryi and Kalush districts. The prospective oil resources are estimated at 33.07 million tons, of which 3.3 million tons are recoverable. The auction was initiated by LLC "Flexor Invest," established in February 2025.

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