Signal to Ukraine: Chevron abandoned oil shale production in Galicia
Representative office of “Chevron Ukraine B.V.” (Chevron Ukraine BV) announced the termination of its activities.
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This is stated in the message of the representative office in the newspaper “Uryadovy Courier”.
The corresponding decision was made by the board of directors of Chevron Ukraine B.V. July 2, 2015. No other details were provided in the message.
As previously reported, the company “Chevron Ukraine B.V.” and Nadra Olesskaya LLC on November 5, 2013 signed a production sharing agreement (PSA) for hydrocarbon production in the Oleska area (Lviv and Ivano-Frankivsk regions).
It was assumed that Chevron would spend about $350 million on seismic, exploration and well drilling at the first stage (the first two to three years).
However, then information appeared about the possible withdrawal of the American company from the project, and Deputy Head of the Presidential Administration of Ukraine Valery Chaly (recently appointed Ambassador to the United States) at the end of December 2014 confirmed information about Chevron’s plans to withdraw from the project to develop the Olesskaya area.
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