Saturday, 16 June 2012

Eni reaches shale gas deal in Ukraine

MILAN, - Italian oil and gas company Eni said on Friday it had signed an agreement to develop unconventional gas in Ukraine as it moves to strengthen its presence in the country and develop its shale gas portfolio. In a statement, Eni said it had reached a deal with Ukrainian state-owned Nak Nadra Ukrayny and Cadogan Petroleum Plc to buy a 50.01 percent stake and operatorship of Ukraine's LLC Westgasinvest. LLC Westgasinvest has rights to shale gas license areas in the Lviv Basin of Ukraine, it said. The Lviv Basin is considered one of the most promising areas in Europe for the exploration of shale gas. Eni already has shale gas assets in Poland and in the United States.

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