Vanco Prykerchenska Ltd Company (Virgin Islands) has begun work at the program and budget to realize the first stage of the development of the Prykerchensky sector of shelf in the Black Sea in 2010, the company reports.

“In spite of a financial crisis, arbitration proceedings in Stockholm, unwillingness of the government of Ukraine to carry on a constructive dialogue, Vanco Prykerchenska company intends to carry the commitments, according to the Agreement on division of production”, is reported.

Vanco company is planning to make a large-scale 3D seismic research of sea-bed in the Prykerchensky sector with a total square 4,200 sq km in 2010, Ukrayinski novyny reports.

 
As a reminder, the Agreement on division of production was signed on October 19 2007 between Cabinet and Vanco International Company (Bermdu islands) on the Prykerchensky sector of shelf in the Black Sea. Vanco International transferred the rights and commitments relating to the Agreement on division of production to Vanco Prykerchenska.
 
Source: Mignews
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