Chevron inks shale gas deal with Ukraine

8 November 2013


Ukraine has signed its second major shale gas deal this year as it continues its bid to reduce its reliance on Russia for energy supplies.

The Ukrainian government has signed a deal with Chevron that will allow the oil major to explore and produce hydrocarbons in two regions of west Ukraine.

It follows a similar deal between Ukraine and Shell in early 2013.

The deal with Chevron is worth up to $10 billion and is in the form of a production sharing agreement. The government estimates that the two regions awarded to Chevron could produce 11-16 billion m3 of gas by 2019, and that together with the deal with Shell, the country could be self-sufficient in gas by 2020. .

Chevron will invest an initial $350 million in exploratory work.



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