Member access

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

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

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

08/15/2012 | 02:59pm US/Eastern
Recommend:
0

(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
Recommend :
0
React to this article
Latest news on EXXON MOBIL CORPORATION
10h ago EXXON MOBIL : ExxonMobil Announces Second Quarter 2014 Earnings Conference Call
11h ago EXXON MOBIL : plans to expand Beaumont refinery in Texas, US
1d ago EXXON MOBIL : ExxonMobil, OMV Petrom start drilling well to assess offshore gas ..
1d agoDJMARKET SNAPSHOT : What The M&A Surge Says About The Stock Market
2d ago The Real Cost of Corporate Tax Dodgers
3d ago EXCLUSIVE : Exxon eyes expanding Texas refinery into biggest in U.S. - sources
3d ago Exxon's European refinery play piles pain on pressured plants
3d ago Rosneft lines up anti-sanctions measures, net income up
3d agoDJPromising Outlook for Tanzania's Natural Gas Sector Says IMF
3d agoDJRosneft Working on Sanctions Strategy
Advertisement
Chart
Duration : Period :
Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | 4-Traders
Income Statement Evolution
Exxon Mobil Corporation : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF