Shell to Invest $800 Million in Ukraine Shales

Royal Dutch Shell is reportedly prepared to commit to invest $800 million on shale gas exploration in Ukraine.

Shell and Ukrainian state-run gas and oil company Naftogaz Ukrayny will sign a formal agreement on Thursday, according to Serhiy Lyovochkin, chief of staff for President Viktor Yanukovich.

"The heads of Shell, who will sign a deal with Naftogaz, are going to meet President Viktor Yanukovich. The deal foresees that $200 million will be directed in probing and $600 million in investments," Lyovochkin told reporters.

Source: Newswires