Nadra Ukrainy, SPK-Geoservice found JV to work on Yuzovska, Oleske fields
Kyiv, February 28 (Interfax-Ukraine) – National joint-stock company Naftogaz Ukrainy and SPK-Geoservice LLC (Kyiv) have founded joint ventures (JVs) Nadra Yuzovska LLC and Nadra Oleske LLC (both based in Kyiv), which in the future will be parties in production sharing agreements (PSAs) to develop the Yuzovska (Kharkiv and Donetsk regions)) and Oleske (Lviv and Ivano-Frankivsk region shale gas fields, the chairman of the State Geology and Deposits Service, Eduard Stavytsky, said at a press conference at Interfax-Ukraine on February 27.
"We’ve created joint ventures Nadra Oleske and Nadra Yuzovska with charter capitals of UAH 500,000. Nadra Ukraine owns 90% and SPK-Geoservice 10% of the joint ventures," he said.
He said that SPK-Geoservice will fully fund the joint ventures.
As reported, on February 9, 2012, the state service for geology and deposits of Ukraine announced a tender to select partners for national joint-stock company Nadra Ukrainy to develop the Oleske and Yuzovska shale gas fields.
The founders of SPK Geoservice, which was created in 2008, are the company's director for research projects, Serhiy Stovba, Senior Geologist Ihor Popadiuk and Deputy Senior Geologist Oksana Khriaschevska. They worked in Naukanaftogaz research institute of Naftogaz Ukrainy before the creation of the company.
According to information from the company, its specialists have experience in cooperation with such oil and gas companies as BP, OMV, Shell, Vanco and AngloUkrEnergy. SPK Geoservice provides consulting services for exploration work in Ukraine, Egypt, the United Arab Emirates and other countries.
On February 23, 2012, Ukraine announced tenders to sign production sharing agreements (PSAs) to develop the Oleske and Yuzovska shale gas fields. Bids can be submitted to the state service for geology and deposits of Ukraine until 1800 on April 23, 2012.
The government included geological information in the tender documents, setting the cost of the package of documents for the Oleske field at UAH 10.5 million and that for the Yuzovska field at UAH 15 million.