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Ukraine to Sign Gas PSA with Chevron, Exxon, Shell in December

By Andrey Ostroukh Ukraine plans to sign production sharing agreements with Chevron Corp. (CVX), Exxon Mobil Corp. (XOM) and Royal Dutch Shell PLC (RDSA) to develop shale gas and offshore field in the first half of December, Environment and Natural Resources Minister Eduard Stavitsky said Tuesday, Interfax reported. "I expect that we will be ready to sign [PSA agreements] on all three contracts in the first 10 days of December," Mr. Stavitsky told a press conference. Ukraine, which depends on gas deliveries from Russia, seeks to develop its own reserves, attracting funds and technologies abroad. Although the country has for years claimed that it may produce all the gas it needs from offshore fields and shale gas deposits, it imports more than 60% of its gas requirements, mostly from the neighboring Russia. In May, Ukraine picked Chevron to develop Olessky shale gas field, which has a projected capacity of up to 1.5 trillion cubic meters of gas, while Shell won a tender for Yuzovsky shale field, storing up to 2 trillion cubic meters of gas. Ministers have said they expect to start production of shale gas in 2015. Exxon Mobil, Shell, Romania's dominant oil company OMV Petrom SA (SNP.RO) and Ukrainian state partner Nadra Ukrayny plan to develop the offshore Skifsky gas field in the Black Sea. Write to Andrey Ostroukh at andrey.ostroukh@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Chevron (CVX)
DateTimeHeadline
07/28/201411:30:12Correction to U.S. Hot Stocks: Hot Stocks to Watch
07/28/201409:39:24U.S. Hot Stocks: Hot Stocks to Watch
07/10/201418:20:05Chevron 2Q Production Expected to Ease
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07/09/201415:38:25Big Commodity Traders Gain Clout
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06/06/201413:51:32Correction to Thursday's Story on Phillips 66
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06/04/201417:48:30TransCanada Plans British Columbia Pipeline Project
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05/02/201409:22:00Correction to Chevron Earnings Story
05/02/201409:16:27Chevron Profit Declines on Lower Production -- Update
04/28/201416:53:22MARKET SNAPSHOT: Market Leaders Energy, Utilities Face Earnings...
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04/13/201418:04:38Law Firms Continue to Merge Despite Previous Missteps
04/10/201418:17:20Chevron Signals It Will Continue Argentina Shale Investments
04/09/201418:10:13Chevron 1st Quarter Production to Slide
03/11/201410:18:58Nigeria's Seplat Petroleum Plans $500 Million IPO in April

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