British company Shell will terminate its cooperation agreement with Ukrgazvydobuvannya, as it is not economically viable. This was reported by Shell's press service in Ukraine.
Shell and PJSC Ukrgavydobuvannya signed a cooperation agreement in 2011. According to the agreement, the British company is to drill three exploratory wells and conduct exploration and production of hydrocarbons over an area of approximately 1,3 square kilometers.
To date, two exploratory wells have been drilled in the Kharkiv region: Belyaevskaya-400, in the Pervomaysky district, and Novo-Mechebilovskaya-100, in the Bliznyukovsky district. Based on these results, geological data from sites in this area was collected and processed. The wells are now being prepared for abandonment, and the process of preparing the drilling sites for reclamation has begun.
The British company's press service reported that all work was carried out in accordance with current Ukrainian legislation, international environmental standards, and the company's operational standards. Shell also stated that it fully implemented its social assistance program for rural communities, allocating approximately UAH 2,7 million to the Pervomaisk and Blyznyukovsky districts of the Kharkiv region.
Subscribe to our channels in Telegram, Facebook, Twitter, VC — Only new faces from the section CRYPT!