Eni signs PSA with Ukraine for Black Sea E&P

Offshore staff

SAN DONATO MILANESE, ItalyEni has signed a production sharing agreement (PSA) with the Ukrainian government for the exploration and development of an area located in Ukraine’s Black Sea.

The offshore area offers exploration prospects, says Eni, in the eastern part of the Crimean peninsula, covering approximately 1,400 sq km (541 sq mi). The area includes a license for Subbotina, where an oil discovery of the same name was made, along with licenses for Abiha, Mayachna, and Kavkazka (collectively known as the Pry Kerch block), where several oil and gas prospects have been identified.

Eni is the operator (with 50%) of a joint venture with EDF (5%), and the state-owned companies Vody Ukrainy (35%) and Chornomornaftogaz (10%), both fully owned by NJSC Nadra Ukrainy and NJSC Naftogaz Ucraina.

11/27/2013

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