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New Oil and Gas Field Put Up for Auction with a Billion-Hryvnia Starting Price

New Oil and Gas Field Put Up for Auction with a Billion-Hryvnia Starting Price

06.05.2026 08:02

The State Service of Geology and Subsoil of Ukraine has announced an auction for a special permit to develop the Lysovytska hydrocarbon area, located in the Lviv and Ivano-Frankivsk regions. This was reported by Nadra.Info, citing data from the UBIZ.ua platform and a published decree by the State Geologic Service.

The auction is scheduled for July 29, 2026. The starting price for the lot is 1.1 billion UAH (excluding VAT), making it one of the most expensive oil and gas plots ever offered.

Key Details of the Project:

  • Permit Type: A 20-year "comprehensive" permit, covering geological exploration, pilot-industrial development, and subsequent extraction.

  • Resources: Natural gas, oil, gas dissolved in oil, and condensate.

  • Area Size: 80.11 sq. km.

  • Location: Kalush district (Ivano-Frankivsk region) and Stryi district (Lviv region).

Environmental Context

Several local hydrological natural monuments are located within the plot's boundaries, including the "Morshynske Uzlissia" forest reserve, the "Morshynskyi" landscape reserve, and the "Vyazyna Bolekhivska" protected tract.

Background

The auction for the Lysovytska area was initiated by Flexor Invest LLC, a Kyiv-based company established in February 2025. The sole owner and head of the company is Bohdan Kravchenko from the Kremenchuk district of the Poltava region.