Shell To Extract Gas In Ukraine.

Naftogaz Ukrainy and Shell International have reached an agreement on the exploration and development of oil and gas fields in the Dneprovsko-Donetsk basin. The agreement was signed in the Hague in the presence of President Viktor Yushchenko. According to the agreement, Shell’s first investment in exploration works will amount to USD 100 million. Concord Capital: Although the talks with Shell have been going on for some time, we believe higher gas prices in Ukraine will motivate the company to intensify its efforts. However, this project is a long-term investment, as exploration of deep deposits will take no less than 2-3 years.