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New contest for development of oil and gas field on Black Sea shelf may be launched in March 2020

Source : 112 Ukraine

Ukraine's Cabinet decided that the previous contest that took place in September was invalid
14:27, 6 December 2019

Gas rig in Black Sea
Open source

A new contest for the development of oil and gas field on the Black Sea shelf (so-called Dolphin initiative) may be launched in March 2020. Roman Opimakh, the Chairman of the State Service of Geology and Mineral Resources reported that, presenting the Investment Atlas of User of Mineral Resources at the Cabinet session, 112.ua correspondent said.  

Ukraine's Cabinet decided that the previous contest that took place in September was invalid. Three foreign companies competed for the right to develop the field, specifically Caspain Drilling International, Trident and Frontera Resources. Trident, the company of ex-Russian MP Ilya Ponomarev won the contest.  

Related: Russia might be preparing to return annexed shelf deposits to Ukraine

The volume of minimal investments on the stage of geological exploration made 55.5 million U.S. dollars; at least five holes must be drilled.

Related: Ukraine starts searching for oil and gas on Black Sea shelf anew

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