The Ukraine approves agreement with Eni and EDF on production of gas and oil without contest
Edited by Rhod Mackenzie / 2013-10-30 02:03:06
The Cabinet of Ministers has approved the production sharing agreement on the development of hydrocarbon areas Subbotino, Abikha, Mayachnaya and Kazkazskaya on shelf of the Black Sea with participation of Eni, EDF and Ukrainian companies Chernomorneftegas and Vody Ukrainy. Earlier the Ukraine estimated investments into these sites development at $4 billion.
According to the Minister of Energy and the Coal Industry Eduard Stavitsky, the development of two fields will give 11-16 billion cubic meters of fuel additionally to 20 billion cubic meters per year, which are extracted today. The Ukraine consumes about 50 billion cubic meters of gas per year.
