Ukraine to Extract Oil, Gas from Black Sea

Ukrainian Prime Minister, Yuliya Timoshenko, says the State is to finance in 2010 large-scale work on the gas and oil deposits in the Black Sea. Photo by wikimedia

The Ukraine plans to begin developing oil and gas deposits in the Black Sea shelf in 2010.

The statement was made by the Ukrainian Prime Minister, Yuliya Timoshenko, cited by the Bulgarian news agency BTA.

Timoshenko says the State is to finance in 2010 large-scale work on the deposits after the conclusion of the court case to establish State ownership over the Black Sea shelf.

“This way gas and oil will no longer belong to some corrupt individuals; they will belong to the Ukraine, Timoshenko is quoted as saying.

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