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Redcliffe Partners Advises Aspect Energy and SigmaBleyzer on Oil and Gas Production Sharing Agreement with Ukraine

Redcliffe Partners Advises Aspect Energy and SigmaBleyzer on Oil and Gas Production Sharing Agreement with Ukraine

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Redcliffe Partners has advised US investors Aspect Energy and SigmaBleyzer — acting jointly through a special-purpose vehicle, Ukrainian Energy, L.L.C. — on an oil & gas production sharing agreement with the Republic of Ukraine. DLA Piper reportedly advised the Republic of Ukraine on the transaction.

Aspect Energy is an independent exploration and energy investment company with offices in Houston, Texas, Denver, Colorado, and Budapest. SigmaBleyzer is a Houston, Texas-based private equity firm that, over the past 25 years, has raised and invested approximately USD 1 billion in over 100 companies.

According to Redcliffe Partners, “on January 13, 2021, Deputy Energy Minister Yuriy Boyko, on behalf of the State of Ukraine, and Partner Dmytro Fedoruk, on behalf of Ukrainian Energy, L.L.C., signed the 50-year PSA for the Varvynska block, comprising approximately 3,500 square kilometers, in Eastern Ukraine.

"The signing of the PSAs is an example of the improvement of the investment climate in Ukraine, and another major step towards the state's energy independence," said Ukrainian Prime Minister Denys Shmyhal.

Aspect Energy, SigmaBleyzer, and potential partners expect to spend at least USD 41.5 million during the first four years of the exploration period, according to Redcliffe Partners. 

Redcliffe Partners' team included Partners Dmytro Fedoruk, Rob Shantz, Sergiy Gryshko, and Anastasia Usova, Counsel Oleksandr Markov, Senior Associate Denys Medvediev, Associates Ivan Shyika and Victoria Ivasechko, and Junior Associates Lara Townzen, Hanna Kovalenko, and Vlad Zakon.

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