KIEV, May 22 – The Economy Ministry suggestion to amend the bill "On Production Sharing Agreements" and limit the size of subsurface sites that can be leased under a Production Sharing Agreement to 1,000 square meters would discourage potential investment in the Black Sea continental shelf, President of the Vanco Prykerchenska Ltd (British Virgin Isles) Jim Bown stated.

According to Bown, underwater development and extraction of hydrocarbons is an expensive and risky process. One bore hole 2,000 meters deep costs $70 million.