President meets Jeroen van der Veer

12:42, 08 June 2006
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Shell company enters Ukraine

Victor Yushchenko has met with Royal Dutch Shell CEO Jeroen van der Veer, according to the President’s press-office.

      Later, at a meeting with other top managers of one of the world’s biggest oil companies, he said: “We want Shell to start actively operating in Ukraine.”

      Illya Rybchych, Director General of Ukrgazvydobuvannya, Naftogaz daughter company, and Rien Herber, Exploration Director of Shell Exploration and Production in Europe, signed a deal to explore and produce gas and oil in Ukraine.

      Under the terms of this agreement, Shell will initially invest USD 100 mln in the local oil industry. It is going to use modern technologies due to great depths at which hydrocarbons lie. Today, Shell rents eight licensed fields of Naftogaz to explore potential reservoirs.

      Then Mr. Herber and Bohdan Klyuk, Deputy Chairman of Naftogaz, signed a memorandum of understanding between the two companies.

      Energy Minister Ivan Plachkov, National Bank Chairman Volodymyr Stelmakh, and Ukraine’s Ambassador to the Netherlands Oleksandr Kupchyshyn were present at the meeting.

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