(Nov. 28th) – Yesterday in Kiev, Eni signed a Production Sharing Agreement with the Ukrainian government, represented by the Minister of Energy Eduard Stavytsky, in the presence of the President of Ukraine Viktor Janukovič, for the exploration and development of an area located in Ukraine’s Black Sea. The offshore area offers significant exploration and is located in the eastern part of the Crimean peninsula, covering approximately 1400 square kilometers. The area includes a license for Subbotina, where an oil discovery of the same name was made, along with licenses for Abiha, Mayachna and Kavkazka (collectively known as Pry Kerch block) where several oil and gas prospects have been identified. Eni is the Operator (with 50% P.I.) of a Joint Venture with EDF (5% P.I.), and the State-owned companies Vody Ukrainy (35% P.I.) and Chornomornaftogaz (10%), both fully owned by NJSC Nadra Ukrainy and NJSC Naftogaz Ucraina. (Peg)
