Ukraine to Issue Shale Concessions in Near Future

Ukraine plans to award the first concessions for shale gas exploration in the country in the "near future," Ukraine's energy minister Yuriy Boyko said Tuesday.

Boiko said the US, the Netherlands and Italy have already expressed their interest in the production of the resources.

"Several companies are already interested in - it is primarily American companies, European: the Dutch Shell, and the Italian Eni. I know that in the near future a series of auctions will be held to allocate sites for shale gas production," Boiko.

In addition to Shell and ENI, Chevron Corp, ExxonMobil, ConocoPhillips, Statoil, PKN Orlen and TNK-BP have expressed interest in Ukraine's unconventional gas potential.

The minister also said heads of major oil companies are due to participate in a number of conferences on the production of unconventional gas in Ukraine, scheduled to take place in the autumn of 2011.

"I know that a number of auctions for the allocation of concession areas for the production of shale gas will be held in the near future," Boyko said.

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