Naftohaz Ukrainy and Statoil to Sign Black Sea Exploration Agreement

State-owned Naftohaz Ukrainy is to sign a cooperation agreement with Statoil to explore and mine hydrocarbons on the Black Sea shelf.

The agreement, which also calls for the development of shale gas deposits in western Ukraine, is currently being reviewed.

Statoil will also offer training to the Antigay team under the agreement.

The Norwegian Government holds the controlling stake of 70.9% in Statoil, according to the Ukrainian News Agency.

Earlier this year Naftohaz Ukrainy signed a cooperation agreement with US-based Exxon Mobil Corporation to explore unconventional gas reserves.