Natfogaz and Statoil to Cooperate on Unconventional Resources

Ukrainian oil and gas company Naftogaz Ukrainy is reportedly in discussions with Statoil ASA in developing unconventional gas deposits in western Ukraine and hydrocarbon exploration and extraction on the Black Sea shelf.

A Naftogaz press release stated that a draft agreement on joint activities was expected to be shortly approved by Statoil.

In February, Naftogaz and ExxonMobil signed a memorandum of cooperation to explore coal bed methane, shale gas, tight gas and other unconventional resources.

Naftogaz has previously been tied to talks with Chevron Corp. and Halliburton for hydrocarbon production in Ukraine.