Jan. 18, 2013, 7:37 a.m. EST
KYIV, Ukraine, January 18, 2013 /PRNewswire via COMTEX/ — The Donetsk and Kharkiv regional administrations voted in favor of the production sharing agreement with the oil and gas company Royal Dutch Shell. The document features ecology, social and other requirements for the investor and regulates the relationship between the investor and the state. According to the agreement, Shell will hand over 31-60 percent of the extracted gas to the Ukrainian state.
The Shell project at the Ukrainian shale gas field Yuzivske has the potential of evolving into the largest investment in Ukrainian history, reckons the Environment and Natural Resources Minister Oleh Proskuryakov. “Shell’s basic scenario would be investing more than USD 10 billion, optimistic scenario – USD 50 billion,” he said. During the initial phase of the project, investments into the Donetsk and Kharkiv region social infrastructure will amount to USD 140 million. read more
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