Chevron signs $10B shale-gas deal with Ukraine


Chevron (CVX) has signed deal with Ukraine for the investment of $10B in the exploration and production of shale gas at the Olesska field in the western part of the country.

Chevron will spend an initial $350M on exploratory work in order to establish the viability of the reserves.

The deal is Ukraine's second this year with a major energy corporation, with the nation forging an agreement with Shell in January.

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Comments (2)
  • User 353732
    , contributor
    Comments (5158) | Send Message
     
    CVX is positioning itself to be the global leader in developing low permeability oil resources.
    It has an impressive portfolio in North America; is the first mover among global energy companies in Argentina and now sees something valuable in the Ukraine. It will no doubt be a presence in Chinese and Australian projects.
    5 Nov 2013, 12:33 PM Reply Like
  • TimeOnTarget
    , contributor
    Comments (3629) | Send Message
     
    Really like their Kitimat/Horn River/Laird project too.
    5 Nov 2013, 12:43 PM Reply Like
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