Ukraine’s shale gas lures western companies - FT.com

Ukraine’s shale gas lures western companies - FT.com:

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Ukraine's President Yanukovich meets with
businessmen and investors in Kiev

The shale gas revolution has been slow to gain momentum in Europe – held back by environmental concerns, political caution and tricky geology. But one country where it may be taking off is Ukraine.
Last week, Kiev signed a potentially $10bn production-sharing agreement with Chevron of the US – its second of the year – to explore for and produce shale gas in the 6,300 sq km Oleska field in western Ukraine. In January, Royal Dutch Shell signed a similar deal covering the nearly 8,000 sq km Yuzivska field in the east of the country.
But Ukraine is not solely doing deals for “unconventional” gas exploration. It is in talks on a production-sharing agreement (PSA) with an ExxonMobil-led consortium to exploit a field off the western coast of the Black Sea, expected to be signed by the year-end. This field is next to the Romanian-controlled Neptun Block, where Exxon and Austria’s OMV discovered a large gasfield in 2012."

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