TNK-BP plans Ukraine gas investment
MOSCOW – Anglo-Russian oil major TNK-BP Holding may spend $50 million on unconventional gas projects in Ukraine over the next few years, the company said Monday.
TNK-BP, which is part-owned by BP PLC, is targeting six unconventional licenses containing tight gas – natural gas which is difficult to access – in Ukraine, Alistair Ferguson, vice-president in charge of gas business at TNK-BP said.
"There is a lot of potential in Ukraine, but it still needs to be defined," Mr. Ferguson said. TNK-BP could invest up to $2 billion over the next 25 years in gas exploration in Ukraine, TNK-BP executive director German Khan was quoted as saying by Russian news agencies last month.
The company is in talks to buy tight gas-production assets in Algeria from BP, and has said that techniques used there could also be applied in Ukraine.
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