Ministerial Decree No.1374 of 2004 regarding validation of Methodical Instruction on fixing starting price for auction sale of special authorization (licence) for use of subsoil.

Cabinet of Ministers decrees to validate Methodical Instruction. In accordance with the present Methodical Instruction shall be fixed starting price for auction sale of special authorization (licence) for use of subsoil within the boundaries of the Ukraine, its continental shelf and EEZ. State Committee of Natural Resources shall calculate starting price on the basis of deposit or plot of subsoil. Starting price is a part of the value of deposits of minerals or plots of subsoil that shall be calculated in accordance with Methodical Instruction on valuation of stock of mineral deposits or plots of subsoil. As regards deposits of oil and natural gas the estimates of prospecting shall be determined on the basis of average Ukrainian expenditure for a unit of the explored stock for the 5 years preceding the end of geological prospecting work.