Deputy Prime Minister Andriy Klyuyev and Vanco Energy Company Chairman and President Gene Van Dyke have signed a production sharing agreement to explore the Prykerchenska area of the Black Sea shelf, president's press office reported.

President Victor Yushchenko welcomed the deal on Friday, saying it will strengthen Ukraine’s energy security and stimulate exploration efforts in the Black Sea. “This is a strategic project for Ukraine and this is a unique precedent for, on the one hand, formulating a national energy strategy and, on the other hand, for cooperating with the world’s leading international investors,” he said.

Ukraine confirms its important role in developing Europe’s energy market and declares its readiness for global energy cooperation, he added, thanking all those who made the deal possible for inviting the reliable investors to Ukraine.


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