Kiev Selects ExxonMobil and Shell?

Kiev Selects ExxonMobil and Shell

Ukraine has given green light to Shell and ExxonMobil joint venture to explore for oil and gas in the country’s sector of the Black Sea, The Financial Times reports, citing unnamed sources.

According to the FT, Kiev, which hopes to reduce its energy dependence on Russian fuels by unlocking its own hydrocarbon reserves, believes that Shell and ExxonMobil are the right companies for the job.

The official tender results are to be announced today. The winners will be awarded the rights to search for hydrocarbon reserves in Skifska and Foroska offshore fields.

The newspaper quoted an Ukranian Government official who said: “Big finds are expected in the Skifska field, attractive in being massive in size as well as adjacent and geologically similar to where ExxonMobil and OMV Petrom are exploring off Romania’s coast”.

Offshore Energy Today Staff, August 15, 2012