Cabinet Revokes Permit to Striking of Product Sharing Deal With Vanco International
Posted: May 28th, 2008 | Author: DylanRichards | Filed under: Politics, Society | Tags: Black Sea, Gas, Kerch, Kristoffersen, Oil, Oil and Gas, Osshore, Production Sharing Agreement, Psa, Stig, Stig Kristoffersen, Stig-arne, Stig-arne Kristoffersen, Ukraine, Vanco, Vanco International | 1 Comment »In April 2006, Vanco International, a subsidiary company of Vanco Energy (US), won the tender invited by the Ukrainian Cabinet for the development of the Black Sea shelf oil-and-gas deposits.
The product sharing agreement was signed on October 19, 2007.
The Environmental Protection Ministry decided on April 25 2008, to cancel Vanco Prykerchenska Ltd’s license to develop the shelf. Vanco Prykerchenska Ltd was given the right to explore the license from Vanco International.