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Shale gas exploration deal with Chevron pending, Ukraine official says

A tentative agreement has been reached between Ukraine officials and Chevron Corp. regarding exploration for shale natural gas in Oleska field in western Ukraine, Energy Minister Eduard Stavytsky told reporters in Kiev on June 13.

Stavytsky said local officials have yet to approve the agreement as required by Ukrainian law.

Earlier this year, Ukraine signed a production-sharing agreement with Royal Dutch Shell PLC for shale gas exploration in Yuzivske field (OGJ Online, Jan. 25, 2013).

The unconventional exploration agreements are part of the Ukrainian government’s effort to reduce dependence on Russian gas. Ukraine has taken measures to liberalize its domestic gas business and seeks large-scale upstream investments.

Terms of the Shell PSC call for Shell to hand over 31-60% of the produced gas to Ukraine (see map, OGJ, June 3, 2013, p. 60).

The PSC was signed at the World Economic Forum in Davos, Switzerland. Shell received exploration rights for Yuzivske gas last year (OGJ Online, Sept. 7, 2012).


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