Photo Gallery

The flag of the Chornomornaftohaz company		Facilities at the Hlibovskyi underground gas storage facility		Facilities at the Hlibovskyi underground gas storage facility
Facilities at the Hlibovskyi underground gas storage facility		Facilities at the Hlibovskyi underground gas storage facility		Facilities at the Hlibovskyi underground gas storage facility
Facilities at the Hlibovskyi underground gas storage facility		Facilities at the Hlibovskyi underground gas storage facility		Facilities at the Hlibovskyi underground gas storage facility
Facilities at the Hlibovskyi underground gas storage facility		Chornomornaftokhaz		Facilities at the Hlibovskyi underground gas storage facility
Facilities at the Hlibovskyi underground gas storage facility		Facilities at the Hlibovskyi underground gas storage facility		The controls of the Hlibovskyi underground gas storage facility
The controls of the Hlibovskyi underground gas storage facility		Facilities at the Hlibovskyi underground gas storage facility

The state joint-stock company Chornomornaftohaz has terminated two agreements with CBM Oil (Great Britain) and Shelton Canada Corp (Canada) on cooperation in development of fields at the shelf of the Black and Azov Seas on the instructions of the Cabinet of Ministers.

Anatolii Prysiazhniuk, the company's board chairman, made this statement at the press conference.

"We've suspended these agreements... The companies have turned to the court, to the Cabinet of Ministers, and this issue is being considered," he said.

Prysiazhniuk stressed that Chornomornaftohaz wasn't going to refuse from the agreements on cooperation with foreign companies.

"I'd say that now we're developing the concepts. The Cabinet of Ministers has already suggested that we shouldn't refuse from these agreements," he emphasized.

Prysiazhniuk said that the agreements had probably been terminated because the Cabinet of Ministers wanted to approve them itself.

As Ukrainian News earlier reported, the Cabinet of Ministers had initiated termination of two co-operation agreements between Chornomornaftohaz and CBM Oil and Shelton Canada Corp. for development of fields at the shelf of the Black and Azov Seas.

Chornomornaftohaz engages in exploration and mining of oil and gas on the Ukrainian shelves of the Black Sea and Sea of Azov.

Naftohaz Ukrainy owns 100% of the shares in Chornomornaftohaz.

CBM Oil was founded in 2004 for development of perspective projects in Caspian, Black and Mediterranean Seas.

One of the prior directions of company's activity is joint work on the CIS territory.

Chornomornaftohaz signed the agreement with CBM Oil in 2008, with Shelton Canada Corp. in 2005.