Thursday, 24 July, 2014,15:25
Русская версия Українська версія English version
ForUm - самое цитируемое Интернет-издание. Главные новости Украины и мира. Home| News| One-line news| Articles| Interview| Gallery| Comments| Forum| Archive| Service| Search| About us
News / 4 February 2014 | 13:31
Ukraine and Chevron Company to sign shale gas pact in March 2014

Ukraine and Chevron Company to sign shale gas pact in March 2014

Operating agreement on shale gas production between Ukraine and the U.S. oil company Chevron can be signed as early as on March 2014. Thus, Chevron will be able to start the development of Olessky field in Lvov and Ivano-Frankovsk regions. This was stated by Eduard Stavitsky, Minister of Energy and Coal Industry of Ukraine, at Saturday briefing. At the same time, he noted that Chevron representatives in Ukraine coordinate their actions with the Ministry, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

For the record, in November 2013, Ukraine signed a Production Sharing Agreement (PSA) with Chevron. According to the agreement, the U.S. Company intends to invest about 10 billion USD in production of hydrocarbons at western regions of Ukraine; however, that agreement did not let the company directly proceed with development of the field.

According to industrial experts, through cooperation with American investor, Ukraine has all chances to repeat the successful U.S. experience. Thus, by development of local shale gas deposits, the U.S. Government managed to reduce gas prices on domestic market from 460 USD per 1,000 m3 in 2007 to 110-120 USD per 1,000 m3 in 2013.

In its report in June 2013, U.S. Energy Information Administration estimated the technically mined shale gas of Ukraine as 3.6 trillion m3 (1.75% of the world reserves). And total reserves as 5.6 trillion m3. Thus, according to experts, capacity of local gas-bearing formations can reach 8-10 billion m3 of gas annually. Another important fact is that, due to implementation of the project, 10,000 to 15,000 new jobs will be created in the country.

Версия для печати
Speaker meeting heads of diplomatic missions of EU countries
On February 3 in Kyiv, speaker of Ukrainian parliament Volodymyr Rybak held a meeting with heads of diplomatic missions of EU countries, accredited in Ukraine
Rada coordination board sitting
On February 3 in Kyiv, the coordination board of heads of parliamentary factions and committees held a sitting
NBU issuing commemorative coins dedicated to Olympic games
On February 3, the National Bank of Ukraine put into circulation two commemorative coins "XXII winter Olympic games" of value 10 and 2 hryvnias
Azarov saying good-bye to the Cabinet
On January 29, now acting Prime Minister Mykola Azarov and first vice PM Serhiy Arbuzov presided at a sitting of the acting Cabinet
VR holding extraordinary sitting
On January 28 the Verkhovna Rada of Ukraine held an extraordinary sitting
Protesters occupied Ukrainian House
On the night of January 25/26 protesters occupied the  building of the Ukrainian House in Yevropeiska square, previously vacated by law enforcements
09:49 February 6-7, Ukrainian President Viktor Yanukovych pays working visit to the Russian Federation

4 February 2014
14:57 Skier Valentyna Shevchenko will bear Ukrainian flag at the opening of Olympic Games in Sochi
14:15 Rivne Regional Council chairman Yuri Kichatyi voluntarily resigned 

Read all news →
Republication or redistribution of ForUm content, including by framing or similar means,
is allowed with the reference to only.
All rights are reserved by © LTD. Inter-Media, ForUm 2001-2014
bigmir)net TOP 100