EuroGas Acquires Unconventional Gas Concessions

EuroGas Inc. has acquired three unconventional gas concessions in eastern Ukraine’s Donbas basin and increased activities in the Lublin basin that extends from Poland into western Ukraine. The acquisition brings to five the number of shale gas and coalbed methane concessions held by EuroGas Ukraine Ltd. in eastern Ukraine under a joint activity agreement with Nadra Luganshchiny Ltd.

Meanwhile, EuroGas GMBH signed a memorandum of understanding to explore for unconventional gas, such as shale and CBM gas, in the Lublin basin where it was the first foreign company to successfully drill a CBM well in the Ukrainian sector in the late 1990s.

The Polish part of the Lublin Basin has become the focus of a major land rush over the last six months, with major companies including  ExxonMobil, Chevron, ConocoPhillips, Marathon Oil, and Poland's National Oil Company PGNiG, having secured licenses (concessions) in Eastern Poland along the Ukrainian border.

Source: Scandinavian Oil-Gas Magazine