Frontera Expands MoU with Ukraine
US Frontera Resources has signed a memorandum of understanding with Ukraine state-owned UkrGasVydobuvannya (UGV) that could lead to joint oil and gas production in Ukraine, it said February 9.
The two parties signed an MoU in July 2015 which the second one expands on, with plans to set up "a more detailed framework of technical and commercial cooperation between Frontera and UGV in order to move towards implementation of joint work in specifically targeted upstream exploration and production projects in Ukraine."
Last year’s MoU also mentioned the possibility of bringing LNG from Georgia to Ukraine but there was no update on that in the February 9 statement. Since last year, Frontera said, joint work has advanced and has now further evolved the upstream focus of this cooperation with UGV.