Member access

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

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

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
1m ago EXXON MOBIL : Venezuela-Exxon arbitration ruling due this week: sources
3h ago EXXON MOBIL : Total tempted by ambitious TAPI Asian pipeline project
10h ago EXXON MOBIL : BP and Shell still contenders for major oil deals in Persian Gulf
1d ago EXXON MOBIL : winds down drilling in Russia
1d ago EXXON MOBIL : COMPANY NEWS: ExxonMobil plans Jurong grease plant
1d ago EXXON MOBIL : Rosneft Opens New Oil Field In Arctic Ocean
1d ago Business Council for International Understanding hosts briefing for President
1d ago EXXON MOBIL : ECOWAS Ministerial Group Seeks Mobilization of Regional Security F..
1d ago EXXON MOBIL : Dean Henderson: ISIL Destabilizes Iraq and Exxon Mobil Awaits Priv..
1d ago EXXON MOBIL : US firm helps Putin discover oil fields in Arctic despite sanction..
Advertisement
Chart
Duration : Period :
Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF