DiXi Group expert analyses disclosure of PSAs at an MSG meeting
On 6 July, Olha Polunina, Manager for Sustainable Development at DiXi Group, presented an analysis of the situation with disclosure of extraction contracts in Ukraine and the world during a meeting of the Multi-Stakeholder Group (MSG).
Speaking at the meeting, she pointed out the important aspects arising today with regard to disclosure of production sharing agreements (PSAs). In particular, she mentioned the failure to meet the disclosure deadlines and the unavailability of PSA number (stated only in the abstract concerning Sofiivska site). Also, none of the seven PSA abstracts fully discloses information regarding the composition of expenses recoverable with cost resource. Information concerning the environmental tax and land rent payment obligation has not been provided for any of these sites, either. For most PSAs, the disclosure of payment terms is limited.
“The largest amount of information was disclosed for Sofiivska site, and the least information is available for Uhnivska site. The differences in the disclosures indicate that legislative framework contains insufficiently clear requirements to disclosure of this information, and the entities required to disclose information differently interpret these legislative requirements,” Olha Polunina summarised.