The Washington Times: Ukraine natural gas exploration with Shell: “London-based Shell Exploration and a Ukrainian gas company Tuesday announced an agreement to explore and produce natural gas.” (ShellNews.net) Posted 11 May 05

London, England, (UPI) -- London-based Shell Exploration and a Ukrainian gas company Tuesday announced an agreement to explore and produce natural gas.

Naftogaz Ukrainy and the subsidiary of the Anglo-Dutch oil giant Royal Dutch Shell will conduct studies in the Dniepr-Donets Basin in northeastern Ukraine.

Shell Exploration said the basin "contains significant remaining undiscovered resources of natural gas. The recovery of these undiscovered resources is subject to considerable technological challenges and dependant on the application of modern insights and technology."

Financial arrangements of the agreement were not disclosed.

http://washingtontimes.com/upi-breaking/20050510-093023-5184r.htm

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