Ukrainian Shale Results Soon

By The Moscow Times

May 10, 2012

KIEV — Shell and Chevron are likely to win tenders to explore and develop two potentially large shale gas fields in Ukraine, outbidding Eni, ExxonMobil and TNK-BP, a government source said Thursday.

One contract area, Yuzivska, is in the eastern Donetsk and Kharkiv regions with the other, Olesska, in the western Lviv region. "[The likely winners are] Shell for Yuzivska and Chevron for Olesska," the source said.

Ukraine's State Geological Service estimates the reserves of the Yuzivska area at 2 trillion cubic meters and those of Olesska at 800 billion to 1.5 trillion. The winners will enter production sharing agreements with state firm Nadra Ukrainy and SPK-GeoService, a privately-owned company picked by the government as its partner in a separate tender.

(Reuters)

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