Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Exxon Mobil Corporation    XOM   US30231G1022

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Ukraine Picks Exxon Mobil-led Group to Develop Black Sea Field

08/15/2012 | 02:59pm US/Eastern

(Adds company comment, in the fifth paragraph.)

 
   By James Marson 
 

MOSCOW--Ukraine has selected a consortium of Exxon Mobil Corp. (>> Exxon Mobil Corporation), Royal Dutch Shell PLC (RDSA, RDSA.LN), Romania's OMV Petrom SA (SNP.RO) and Ukrainian state firm Nadra Ukrainy to develop an oil-and-gas field on its Black Sea shelf, Interfax cited the country's environment and natural-resources minister as saying Wednesday.

The group beat out a bid by Russia's OAO Lukoil Holdings (>> Neftyanaya kompaniya LUKOIL OAO).

The consortium has pledged to invest $400 million in the initial exploration phase of the Skifska field and make a one-off payment of $325 million to Ukraine's budget, Interfax quoted the minister, Eduard Savitskiy, as saying.

Ukraine is seeking to develop its oil-and-gas deposits to decrease its dependence on Russia for energy supplies. The field is expected to produce three billion to four billion cubic meters of natural gas a year.

Exxon, in a statement, said it "is pleased by today's announcement" by the Ukrainian government. "We look forward to receiving the formal resolution of the Ukraine Cabinet of Ministers" on the award of the block.

--Angel Gonzalez in Houston contributed to this article.

Write to James Marson at james.marson@dowjones.com.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Exxon Mobil Corporation, Neftyanaya kompaniya LUKOIL OAO
React to this article
Latest news on EXXON MOBIL CORPORATION
02:07p EXXON MOBIL : ExxonMobil makes significant oil discovery Offshore Guyana
10:24a EXXON MOBIL : Media Reports About ExxonMobil Lobbying on Iran Sanctions Are Inac..
08:14a EXXON MOBIL : ExxonMobil discovers significant oil in Liza-1 well offshore Guyan..
07:41a EXXON MOBIL : lobbies US govt. on Iran sanctions
06:07a EXXON MOBIL : Deploys More Sanction Watchers as Iran Nuke Deal Looms
05/21 EXXON MOBIL : XOM) Closes 0.09% Up on the Day for May 21
05/21 EXXON MOBIL : Turkey intends to cooperate with Azerbaijan in oil and gas explora..
05/21 EXXON MOBIL : ExxonMobil announces significant oil discovery offshore Guyana
05/21 EXXON MOBIL : ExxonMobil Discovers Oil at Stabroek Block Offshore Guyana
05/20DJEXXON MOBIL : Worleyparsons Settle Dispute for US$78 Million
Advertisement
Chart
Duration : Period :
Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | 4-Traders
Income Statement Evolution
More Financials