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
5h ago 3Legs backs out of three Polish shale gas concessions
1d ago EXXON MOBIL : Operational excellence in focus at key forum
2d ago EXXON MOBIL : ExxonMobil interested in Phl drilling contracts DOE
2d ago DOW MOVERS : Utx, unh
2d ago EXXON MOBIL : 'Operational excellence is a journey, not an end'
2d ago Exclusive - Total resumes $2.5 billion Nigerian deepwater oil field sale
3d ago EXXON MOBIL : Duration of Approvals for Oil, Gas Projects in Nigeria Is Longest ..
3d ago EXXON MOBIL : Global oil, gas executives to gather for Middle East forum
6d ago Bets on hawkish Fed lift dollar, U.S. bond yields
6d ago Wall St. declines with energy, ends five-week string of gains
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