About a dozen of foreign oil and gas producing companies are negotiating with ChornomorNaftoGaz about cooperation in the shelf of the Sea of Azov and the Black Sea, “Cabinet press office” informs.

According to ChornomorNaftoGaz Board Chairman Anatoliy Prysiazhniuk, "foreign companies have a great interest and strive to work in the shelf under any conditions." According to him, the general volume of investments to the exploration and extraction in the sea may amount UAH 20 billion (one USD= UAH 5.05). A particular interest toward the Ukrainian shelf is shown by the Russian Gazprom, the Austrian OMV, the Turkish Turkiye Petrolleri and the American Vanco.

According to Prysiazhniuk, a protocol of intent was signed last week with "Gazprom" on joint development of the Pallas area of the Black Sea shelf. As far as the area is situated in territorial waters of Russia and Ukraine, only joint extraction is possible.

According to forecast appraisal of the Fuel and Energy Ministry, the stock of the Ukrainian shelf amounts to 4-6 trillion cubic meters of gas: some 80 percent in the Black Sea and 20% in the Sea of Azov.


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