Chevron Did Not Reach The Agreement With Ukrainian Government

Chevron did not reach the agreement with the Government of Ukraine on signing operational agreement for the development of shale gas production project on Oleska Area.

Project sharing agreement between the state of Ukraine, Chevron Ukraine B.V. company and LLC “Nadra Oleska” was signed in November, 2013.

The negotiations on signing operational agreement, which is necessary to start exploration activities, lasted more than a year, however the consensus regarding the outstanding issues has not been reached.

The company does not comment on the future of the project.

“We have just delivered to the Ukrainian government our response. Therefore it is premature for us to comment”, – the company’s spokesperson stated to Reuters.