Support The Moscow Times!

Ukrainian Shale Results Soon

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)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.