Sigma Bleyzer, a United States-based investment corporation is reportedly prepared to invest some $100 million in the production of fossil fuel in Ukraine under product-sharing agreements (PSA), the State Service for Geology and Deposits of Ukraine has informed citing the president of SigmaBleyzer Michael Bleyzer, Interfax-Ukraine reports.
“We have been analyzing the potential of the Ukrainian reserves for a long time, namely in the area of oil and gas fields. Our company’s strategy is to develop greenfield sites that have never been in industrial production. We are interested in areas over 500 km2 under PSA conditions. We are prepared to make an initial investment worth $100 million,” the press service of the state servie said citing Michael Bleyzer after a meeting between the executives of SigmaBleyzer, Aspect Holding and Energy Transfer firms with the Head of the State Service for Geology and Deposits of Ukraine Oleh Kyryliyuk.
According to the official, the government seeks to announce a tender to sign the product-sharing agreement in the nearest future.
As reported earlier, the American investment company is analyzing the possibility of establishing an investment fund in Ukraine focused primarily on the energy sector, particularly, on gas production.
SigmaBleyzer manages funds of the UGF family (UGF I, II and III), the first of which was established in 1996, and the Sigma Bleyzer Southeast European Fund IV (SBF IV) of EUR 250 million, closed in February 2007. In 2012, the volume of assets under management was estimated at $1 billion.
SigmaBleyzer is one of the largest and most experienced private equity investors in Eastern Europe, with over 100 full-time investment professionals focused on control investments in companies operating in attractive and fast growing industries in Ukraine, Romania and Kazakhstan.