TNK-BP Ready To Invest Up To $2 Billion in Ukrainian Gas Business

November 22, 2010
TNK-BP could invest up to $2 billion into developing its gas business in Ukraine over the next 25 years, the company reported in a news release.

TNk-BP executives noted that they want to study the possibility of producing gas from non-traditional sources such as gas methane and shale.

"We intend to use cutting-edge technologies which have shown positive experience in international markets, especially in the United States where gas produced from non-traditional sources grew last year to over half of the country's production", TNK representatives said.

At the present time it is not known how economically effective Ukraine's non-traditional resources are. Further geological surveys are required to determine potential profit.

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