Shell considers pulling plug on final Ukraine exploration well
Shell considers pulling plug on final Ukraine exploration well
Commodities | Thu Jun 11, 2015 12:11pm BST
Oil major Shell is considering withdrawing from its last exploration well in Ukraine as the project has been on hold for nearly a year due to the conflict between pro-Russian separatists and Ukrainian forces.
Shell said it has been unable to perform its commitments in relation to the Yuzivska production sharing agreement (PSA) with project partner Nadra Yuzivska LLC due to a force majeure that has been in place since last July.
“We have begun discussions with the Ukrainian government and our partner Nadra Yuzivska LLC on the way forward with the PSA,” Shell said in a statement.
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