Ukraine ready to sign exploration deal with Chevron

Ukrainian and American flags on flagpoles
Source: DollarPhotoClub

Ukraine has met all the terms to sign an operation agreement with Chevron to extract the shale gas in the Olesko area in Lviv and Ivano-Frankivsk regions – said Yaroslav Klymovych, the chairman of Nadra Ukrayiny.

As the Ukrainian portal Zik reports, the company Nadra Ukrayiny hosted a meeting with representatives of Chevron to resolve all contentious issues standing in the way of signing the exploration agreement. Under the agreement, Chevron will be able to start exploration work at Oleska shale gas concessions close to the city of Lviv and Ivano-Frankivsk in western Ukraine. The head of Ukraine’s state geological service Dmytro Kashchuk confirmed Ukraine’s readiness to sign an agreement with Chevron.

Despite the unstable situation in the country, causing many energy projects to stall or be abandoned, the Ukrainian officials were eager to commence exploration work in the regions, calling on Chevron to speed up the signing of the operation agreement.

At 42 trillion cubic feet, Ukraine has Europe’s third-largest shale gas reserves, but exploration has so far proven difficult, with Royal Dutch Shell abandoning exploration of the 8,000-square-kilometre Yuzivska field, in the eastern part of the country, citing political unrest.

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