S Arabian minister invites Russian counterpart to GCC oil ministers meetingBusiness & Economy October 23, 13:42
A family of eight killed in airstrike near Mosul - TVWorld October 23, 13:08
Kiev military launch more than 200 shells, destroy house in DonbassWorld October 23, 11:10
Rescuers evacuate 15 people from house hit by gas explosionSociety & Culture October 23, 11:07
Russian health minister says producing vaccines in Nicaragua is "very profitable"Society & Culture October 23, 7:36
Russia, EU should set up strategic planning committee — former foreign ministerRussian Politics & Diplomacy October 23, 6:07
DPR to raise issue of Ukrainian forces’ shellings in DPR’s south — envoyWorld October 23, 5:06
Georgia’s Orthodox patriarch to visit Moscow to mark Russian patriarch’s 70th birthdaySociety & Culture October 23, 4:21
Iraqi forces enter last settlement on northern approaches to Mosul — mediaWorld October 23, 3:56
KIEV, November 27, 20:04 /ITAR-TASS/. Under the product-sharing agreement Ukraine plans to conclude with the Italian company ENI and Electricite de France (EDF) Ukraine’s investment into the development of the Black Sea shelf will be no less than four billion dollars, Eduard Stavitsky, the minister of energy and coal industry, told a briefing on Wednesday.
“The investment will amount to at least four billion dollars. The annual oil production, according to the basic scenario, will be two million tonnes a year and at most three million tonnes a year,” the minister said.
The agreement envisages the development of offshore hydrocarbon fields Subbotino, Abikha, Mayachnaya and Kavkazskaya. The total area of the deposits is 2,000 square kilometers. Sea depth is up to 100 meters.
At the initial stage, Stavitsky said, the investment must amount to some 350 million dollars. Three-dimensional seismic survey of the areas will be made and four wells drilled.
According to the product-sharing plan, 75 percent of the products will go to the investors, and 25 to the state.
The project envisages an extra collection that will go to the state as a production bonus of 2.2 dollars per barrel of oil or oil condensate and 1.1 dollars per barrel of oil equivalent of 1,000 cubic meters of gas, the minister said.
The Ukrainian government had earlier decided to conclude the product-sharing agreement without competition.
Ukraine announced the competition for diversification of energy supplies and increase of own hydrocarbon production. The basic scenario of Ukraine’s updated energy strategy for up to 2030 envisages more than doubling the growth of domestic gas output to reach 44.4 billion cubic meters of gas and reducing gas import to 5 billion cubic meters.
The growth of gas output is expected to be achieved also by the development of the deep-water part of the Black Sea shelf, whose reserves are estimated at from 4 trillion to 13 trillion cubic meters, as well as by the use of alternative kinds of gas - shale gas, oil-dissolved gas and coal bed methane.