Chevron signs $10B shale-gas deal with Ukraine

|About: Chevron Corporation (CVX)|By:, SA News Editor

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.