Eni signs PSA for offshore Exploration and Development in Ukraine
The offshore area offers significant exploration and is located in the eastern part of the Crimean peninsula, covering approximately 1400 km². The area includes a license for Subbotina, where an oil discovery of the same name was made, along with licenses for Abiha, Mayachna and Kavkazka (collectively known as Pry Kerch block) where several oil and gas prospects have been identified.
Eni is the Operator (with 50%) of a Joint Venture with EDF (5%), and the State-owned companies Vody Ukrainy (35%) and Chornomornaftogaz (10%), both fully owned by Nadra Ukrainy and Naftogaz Ucraina.
The PSA, which follows cooperation agreements established in 2011 with the state-owned company, will significantly strengthen Eni's presence in Ukraine, where the company has been present since 2011 as non-operating partner in the Zagoryanska and Pokroskoe licenses located in the Dniepr-Donetz Basin. In 2012, Eni acquired a 50.01% stake and the operatorship in Westgasinvest, which currently holds rights to 9 unconventional gas license areas in the Lviv Basin, in western Ukraine.
Source: http://www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/28 November 2013