French Total studying possibility to develop shale gas deposits In Ukraine

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April 15, 2010, 12:33 p.m. | Ukraine | Politics — by Ukrainian News
The Total S.A. company, France, is studying the possibility to develop shale gas deposits in Ukraine, the EuroGas Inc (the United States), which owns part of rights to shale gas deposits on the border of Ukraine and Poland, said. According to the report, the Total E&P (a subsidiary of the Total company) has signed an agreement on confidentiality with the EuroGas Polska (a subsidiary of EuroGas Inc).

The agreement was signed in need of assessment of possible acquisition of some rights to the development of deposits in Ukraine, which are wholly owned by EuroGas Polska.

Besides, the acquisition of the right to lease fields in Poland, where EuroGas Polska stake is 24%.

Total S.A. is one of five largest oil and gas producing companies in the world.

As Ukrainian News earlier reported, Ukraine annually produces about 20 billion cubic meters of natural as and is one of the largest importers of that fuel in Europe.
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