Naftogaz and Gazprom to develop the shelf of the Black Sea

The companies of Russia and Ukraine are going to develop oil deposits in the Azov and the Black Seas before water boundary delimitation is finished, the RF Minister for Foreign Affairs, Sergey Lavrov reported.

“The companies of our countries are going to develop the reserves discovered as efficiently as possible. We haven’t finished the delimitation in the Azov and the Black Seas yet. However, the international law allows the consideration of joint development before its completion”, he said.

In 2007 Naftogaz of Ukraine and Gazprom arranged joint development of Pallas structure in North-East of the Black Sea on the border of Ukraine and the RF. Naftogaz of Ukraine has already announced the completion of the 3D seismic exploration at the structure and the beginning of the data interpretation.