Shell has postponed the development of shale gas in Ukraine due to force majeure

 

In recent years, more than once transferred to the beginning of work, still hoping to invest in the contract due to the time frame. Shell delayed the start of drilling of the first exploration well in the area of ​​Hughes (Kharkiv and Donetsk region) due to a force majeure situation on the field. 
 
"July 15, 2014 Shell, in accordance with the provisions of the PSA, reported the occurrence of force majeure preventing the fulfillment of certain obligations Shell (time-bound) under the PSA due to developments affecting the territory Yuzovsky area" - the company said. At Shell, added that lately more than once transferred the beginning of work, still hoping to invest in the time frame specified in the contract. 
 
"However, at the time of notification of the occurrence of force majeure, it became apparent that the inability to start work in the near future will prevent us to fulfill the obligations in a timely manner," - said the press service. At the same time, Shell stressed that the company will continue to perform all of its obligations, which are not affected by the situation on the Hughes site. 
 
Recall of the Hughes area is in the area of anti-terrorist operation (ATO). Production Sharing Agreement (PSA) for Hughes area Ukraine signed with Shell January 24, 2013 for a period of 50 years. Operating agreement, which actually permits to begin work on the Hughes natural gas field, signed on 12 September 2013. 
 
According to the December 17, 2013, the then Minister of Ecology and Natural Resources of Ukraine Oleg Proskuriakov, Shell planned to begin drilling the first exploration well in the area of ​​Hughes in the first half of 2014. 
 
SEGODNYA.ua 
August 21, 2014