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Cabinet of Ministers to break JAAs with CBM Oil and Shelton Canada?

Cabinet of Ministers to break JAAs with CBM Oil and Shelton Canada?

24 June 2008

According to Deputy Secretary of Ukraine’s Security and Defense Council Boris Sobolev, Chernomornaftogaz, a Naftogaz of Ukraine subsidiary, suspended its Joint Activity Agreements (JAA) with “a Canadian and a British company” for the development of off-shore hydrocarbon deposits in the Black and Azov Seas. Sobolev said that suspension of the agreements was initiated by the Cabinet of Ministers of Ukraine. He did not mention company names specifically, but the only Canadian company operating on Ukrainian Azov Sea shelf is Shelton Canada, while the British company on the Black Sea is most likely CBM Oil.

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