Vanco to start Ukraine drilling in second half of 2012

摘要

London—Ukraine-based Vanco Prykerchenska is confident that deepwater exploration of the Prykerchenska block in Ukraine’s sector of the Black Sea will begin in the second half of this year, the company’s president, Jim Bown, told Platts last week. This is despite a sharp escalation in upstream costs and a production sharing agreement that leaves the explorer with all the risk and the state with 70% of the revenues.