Ukraine offers shale gas tender double

Up for grabs: Two Ukrainian shale gas contracts on offer

related stories

By News Wires

 24 February 2012 12:41 GMT

Ukraine says it expects a number of international majors to take part in a new tender for two shale gas blocks believed to contain up to 3.5 trillion cubic metres in reserves.

The country’s State Geological Service (SGS) said bids would be accepted until 23 April for the right to enter a production-sharing contract with state player Nadra Ukrainy, according to Reuters.

One contract area, Yuzovska, is located in the eastern Donetsk and Kharkiv regions. The other, Olesska, is in the western Lviv region.

The SGS state geologists estimate the reserves of the Yuzovska area at 2 trillion cubic metres and those of Olesska at 0.8 to 1.5 trillion cubic metres.

It said the Yuzovska area would require $250 million to $300 million in exploration investments,…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index