Ukraine to prospect for gas on Black Sea shelf - PM Tymoshenko

17:42, 25 November 2008
804 0

Prime Minister has issued instructions

Ukrainian Prime Minister Yulia Tymoshenko has issued instructions for the drafting of a project to prospect for gas off the country`s Black Sea coast, RIA Novosti reported.

"I would like us to start implementing a large-scale project, including the entire shelf, and including all the components of prospecting and production, and I ask you to launch this as a separate state program," the government press service quoted Tymoshenko as saying.

She also said the project should involve the attraction of "long-term loans from world financial institutions."

Tymoshenko said this would be "a serious large-scale project." However, she failed to specify what deposits exactly she meant.

The Kerch area`s reserves are estimated at 10.8 billion cu m of natural gas. Production at this section would allow Ukraine to increase its annual gas production by 4 billion cu m, and oil by 3 million tons.

Ukraine presently produces about 20 billion cu m of gas and 4 million tons of oil a year, or about 20% of its annual consumption.

RIA Novosti
If you see a spelling error on our site, select it and press Ctrl+Enter