Reuters: TNK-BP to bid for Ukraine shale gas field

Russian oil company TNK-BP, which is half owned by BP, will take part in a tender for a potentially large shale gas field in Ukraine, it said on Tuesday.

"We hope that the terms of the production sharing agreement tender for the Yuzovska area, in which we plan to participate, will be transparent and fair," Volodymyr Zhmak, the executive director of TNK-BP's Ukrainian unit, told an industry conference.

Ukraine announced tenders for Yuzovska and Olesska, another prospective shale gas field, last week and plans to announce results in late April.

The Yuzovska area is located in the eastern Donetsk and Kharkiv regions. Ukraine's State Geological Service estimates its reserves at 2 trillion cubic metres.  MORE