Ukraine

Ukraine signed the Prykerchenska production-sharing agreement with Vanco International Ltd., a unit of Vanco Energy Co., Houston.

By OGJ editors
HOUSTON, Oct. 19 -- Ukraine signed the Prykerchenska production-sharing agreement with Vanco International Ltd., a unit of Vanco Energy Co., Houston.

The nearly 13,000 sq km block southeast of the Crimean Peninsula is in water 500-2,000 m deep or more. An extensive 3D seismic survey in 2008 will precede deepwater drilling.

Vanco was granted the right to negotiate the first license to explore the Black Sea deepwater area in April 2006 (OGJ Online, Apr. 24, 2006).

Vanco will concentrate on the Tetyaev high, in more than 2,000 m of water, where it has identified large structures, and on the shallower-water Sudak fold belt, where it has located numerous attractive prospects.

More in Area Drilling