Ukraine plans to sign production sharing agreements (PSAs) with Shell, Chevron and a consortium headed by Exxon Mobil in early December 2012.
In May 2012, Chevron won a tender to develop the Oleske field in Lviv and Ivano-Frankivsk regions. The Oleske field's reserves are estimated at 2,980 bcm of shale gas, requiring at least UAH 1.3bn (US$158m) in the geological study phase, and UAH 25bn (US$3bn) in the industrial production phase.
Shell won the rights to develop the Yuzovska gas field in Kharkiv and Donestk regions. Shell's Yuzovska field has projected reserves of an estimated 4,050 bcm of various categories of gas; investment is estimated at UAH 1.6bn (US$195m) investment in the geological study phase, and UAH 30bn (US$3.7bn) in the industrial production phase.
Finally, a consortium of ExxonMobil, Shell, Petrom and Nadra Ukrainy won the PSA tender for the Skifska oil and gas field on the Black Sea shelf. The field's projected annual natural gas production could total 3-4 bcm.