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Russia Eyes Crimea’s Oil and Gas Reserves
NASDAQ ^ | March 17, 2014, 08:57:25 AM EDT | Oilprice.com

Posted on 04/26/2014 8:30:36 PM PDT by WhiskeyX

The ongoing political standoff in Crimea has already halted Ukraine’s oil and gas ambitions. Ukraine came close to inking a deal with a consortium of international oil companies that would have led to an initial $735 million investment to drill two offshore wells. The consortium led by ExxonMobil (XOM) – with stakes held by Shell, Romania’s OMV Petrom, and Ukraine’s Nadra Ukrainy – had been particularly interested in the Skifska field in the Black Sea, which holds an estimated 200 to 250 billion cubic meters of natural gas. If it can get the field up and running, Exxon hopes to eventually produce 5 billion cubic meters per year. Exxon’s consortium outbid Russian oil company Lukoil for the rights to the block.

Those plans were still in the early stages – the consortium and the Ukrainian government led by Viktor Yanukovych couldn’t agree on terms. Obviously, once Yanukovych was ousted, ExxonMobil had to put those plans on hold until further notice.

(Excerpt) Read more at nasdaq.com ...


TOPICS: Business/Economy; Foreign Affairs; Russia
KEYWORDS: crimea; oil; russia; ukraine

1 posted on 04/26/2014 8:30:37 PM PDT by WhiskeyX
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To: WhiskeyX

Let them have it. Nothing works in Russia anyway.


2 posted on 04/26/2014 8:44:30 PM PDT by DIRTYSECRET (urope. Why do they put up with this.)
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To: WhiskeyX; UMCRevMom@aol.com; All

Ukraine big oil find in the Black Sea ? Why that’s a Russian ocean. Such explorations are certainly not in Russias interest. Why it would compete with their strangle hold on the european market. Do you suppose why the Putin regime invaded was one of the reasons to create unrest in the Black Sea area area would be to reduce such explorations ? What land mass is that near could that be the Crimean penninsula ? Even if it isn’t deep drilling rigs would of course interfere with their warships threatening other countries who might have similar finds. Hummm????


3 posted on 04/26/2014 10:01:53 PM PDT by mosesdapoet (Serious contribution pause.Please continue onto meaningless venting no one reads.)
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To: WhiskeyX

This is dynamite, a time bomb run out, in the making. But a glimmer for the Nuclear cap squeeze / NATO evisceration, (to produce a deliverable), all be it the edge of slaughter. The Germans and Americans are in the pie slicing mode here. May the lord guide favor the bold, bless the Valenti.

Thanks for this post W10,

Rab


4 posted on 04/26/2014 10:39:35 PM PDT by Rabin
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