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Chevron signs US$10bn shale gas agreement with Ukraine

2013 #89 Ukraine

Chevron has signed a shale gas production-sharing agreement for the Olesska field in western Ukraine with the government of Ukraine. Under the terms of the deal, Chevron will invest US$350m in exploratory works in an initial phase, to estimate the commercial viability of the field.

Total investments, including extraction after exploratory drilling, should reach US$10bn. A similar agreement was signed in January 2013 with Shell for exploration of the Yuzivska field in eastern Ukraine. These two projects are expected to raise Ukraine's gas production by 11 to 16 bcm within five years.

Source:http://www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/ 06 November 2013