17:40 17.01.2014

Chevron operations at Ukraine's Oleska shale won't begin before July 1 - Ecology Minister

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Chevron Ukraine B.V. will begin operations at the Oleska shale gas play no earlier than the third quarter of 2014, Ukrainian Ecology and Natural Resources Minister Oleh Proskuriakov said at a briefing in Ivano-Frankivsk on Friday.

"Tentatively - we'll be objective - [the work will begin] no earlier, probably, then the third quarter this year," he said.

Work on the operating agreement, which will be signed in the near future, is being finalized. After that, the company will have 90 days to present its work program for 2014 to the inter-ministerial commission for production-sharing agreements.

"In addition, the company must undergo environmental monitoring and expert review, so that we can guarantee the safety of people living in those areas where operations will be conducted," he said.

On November 5, 2013, Chevron Ukraine B.V. and Nadra Oleska LLC signed the production-sharing agreement on the Oleska shale gas deposit, located in Lviv and Ivano-Frankivsk regions.

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