Ukraine Calls Energy Majors to Bid for Offshore Exploration Rights

Ukraine Calls Energy Majors to Bid for Offshore Exploration Rights

Ukraine has invited oil & gas companies to file their bids for exploration and production rights in two fields located in Ukraine’s part of the Black Sea, the Financial Times reports.

The country is trying to improve its energy security and reduce its dependance on Russian gas imports and hopes to unlock its own offshore gas reserves.

According to the Financial Times, the bids are expected to be submitted within the next two months. The winners will be awarded the rights to search for natural gas reserves in the country’s Skifska and Foroska offshore fields.

International supermajors such as Shell, Total, ExxonMobil, Eni, Sinopec and Petrobras are all interested in Ukraine’s offshore fields, reports the Financial Times, citing unnamed industry sources.

Offshore Energy Today Staff, June 4, 2012

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