Offshore staff
KIEV, Ukraine -- The Ukraine government has signed the Prykerchenska Production Sharing Agreement with Vanco Energy Co. The government says that the agreement gives Vanco the opportunity to explore the deepwater part of Ukraine's Black Sea and to develop the Prykerchenska block.
Vanco says work will begin immediately on a 3D seismic survey in 2008.
On the southeast of the Crimean Peninsula, the Prykerchenska block covers nearly 13,000 sq km (5,019 sq mi) with water depth ranging from 500 m (1,640 ft) to over 2,000 m (6,562 ft). Vanco says that exploration will concentrate on the Tetyaev High and the shallower Sudak Folded Belt structures.
"With the Prykerchenska Production Sharing Agreement now in place," says Gene Van Dyke, Vanco's chairman and president, "we can proceed with plans to explore fully this frontier area of Ukraine's deep Black Sea."
10/19/2007
