The Ukrainian government plans to discuss a draft resolution providing for the start of a project to produce oil and gas in the Black Sea.
Eni and EDF are expected to participate in the project, said Ukrainian Prime Minister Mykola Azarov, adding that investment in the Black Sea fields would reach $4bn by 2020.
Once the project gets off the ground, it should be possible to increase oil and gas production by 2-3 million tons of fuel equivalent. In September, Ukrainian Energy Minister Eduard Stavytsky said Eni had submitted an application to develop shallow fields in the Black Sea.
Copyright: ProNedra, 2013