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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (105859)	4/26/2014 3:18:43 PM
From: Haim R. Branisteanu	Respond to of 218007

Ukraine currently welcomes shale investment. On the other hand, Bulgaria and Romania have placed shale exploration on hold, after initially proceeding with shale leasing. Ukraine. The Ukraine State Service of Geology and Mineral Resources (Gosgeonedra) has announced shale gas resources in the country of 7 trillion m3 (Tm3 ) or 247 Tcf.1 However, the basis for this estimate has not been released and the figure includes some tight gas resources. The newly created Geological Research and Production Center in Poltava plans to coordinate shale gas studies in Ukraine, while monitoring water quality in drilling areas. Ukraine’s current Production Sharing Agreement (PSA) involves a 5-year exploration period and up to 45 years for development. Tender fees are modest: $60,000 for the tender and $10,000 for the geologic information package. On February 23, 2012 the Ukraine government announced a tender for shale exploration and development in the Oleska and Yuzovska blocks of western and eastern Ukraine, respectively. Shell, ExxonMobil, Chevron, ENI, and TNK-BP initially responded to the tender. In January 2013, Ukraine awarded the first shale gas PSA, signing with Shell at the World Economic Forum in Davos, Switzerland. Shell’s 50-year PSA permit at Yuzovska in the eastern Dniepr-Donets Basin covers an area of 7,886 km2 and assigns oil and gas rights to all strata to a depth of 10 km, including tight and basin-centered gas. The contract allows for 70% investor recovery and a 16.5% government revenue share. Chevron has been in negotiations with the government for a PSA at the Oleska field in western Ukraine. This block is along strike with Poland’s Lublin basin, where Chevron already holds shale licenses. Duration and terms likely would be similar to those granted to Shell. Eastern Europe has three distinct shale-prospective areas with shale gas and oil potential in Paleozoic and Mesozoice marine-deposited black shales. Within the Paleozoic, the Carboniferous and Silurian black shales are most prospective, while the mid-Jurassic shales are most prospective for oil and gas within the Mesozoic. Other organic-rich shales exist locally but these tend to be less widespread and/or are thermally less mature, and thus were not assessed. • Carpathian Foreland Basin. The moderately complex Lviv-Volyn Basin of western Ukraine is similar to the Lublin Basin in southeast Poland. However, the Silurian black shale belt becomes structurally simpler as it trends towards the southeast across southwestern Ukraine and northern Romania until it reaches the Black Sea. This deep Paleozoic belt north of the Carpathian Foldbelt is called the Carpathian Foreland Basin. • Dniepr-Donets Basin. This well-defined Late Paleozoic basin in eastern Ukraine and southern Belarus contains prospective organic-rich L. Carboniferous black shales. • Moesian Platform. Silurian and Jurassic black shales are present across Romania and Bulgaria. Note that the Moesian Platform shale plays are less well defined than the previous two plays and may be considerably larger than assessed here. eia.gov