You're reading: Chornomornaftogaz, RWE could submit bid to obtain license for one of fields on Black Sea

The state-run joint-stock company Chornomornaftogaz and Germany's RWE energy concern are studying the submission of a joint bid to obtain a license for one of the fields on the Black Sea shelf, Chornomornaftogaz Board Chairman Valeriy Yasiuk said at a press conference in Simferopol on Thursday.

"The pre-preparation stage for exploration work is underway and the submission of a joint bid to obtain a license to explore and drill [a field] is being prepared. It’s too early to name the terms. I think that it would be no earlier than H1, 2012," he said.

Yasiuk said that currently the sides have not yet made any concrete decisions and signed any key documents.

"The situation and deposits are being studied and we haven’t made any decisions," he added.

As reported, Chornomornaftogaz is developing the Ukrainian shelves of the Black and Azov seas. The company extracts hydrocarbons in Crimea, exploits the Hlibovske underground gas storage facility in Crimea and operates the peninsula’s pipelines. National JSC Naftogaz Ukrainy owns a 100% stake in the company.