Vanco International Ltd, Vanco Energy Company (USA) subsidiary, a privately held Houston, Texas-based oil and gas company that specializes in deep-water oil and gas exploration and development, has won the bid for developing a gas deposit on the sea shelf off the Ukrainian part of the Black Sea, a senior Ukrainian official said Wednesday.
Six foreign companies, including British Shell, ExxonMobil, and Ukraine's Ukrneft participated in a tender to develop a large natural gas deposit located near the Kerch peninsula with estimated reserves of 30 billion cubic meters, AXcessNews informs.
Vanco Energy is a deepwater explorer in offshore Africa with over 17 million acres under license in Cote d'Ivoire, Equatorial Guinea, Gabon, Ghana, Madagascar and Morocco.
Terms of the deal were not disclosed.
Earlier, Vanco owner Van Dyke declared that the Company would invest $2 milliard in this project.
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