OREANDA-NEWS. February 21, 2011. "Naftogaz Ukraine" and company "ExxonMobil" signed a memorandum on cooperation in exploration of alternative hydrocarbon reserves in Ukraine.

The purpose of the memorandum signed is the establishing of mutually beneficial cooperation between the companies in the analysis of potential reserves of coal bed methane, shale gas, tight gas from rocks and other hydrocarbons to alternative sites in Ukraine.

Stressing the importance of the Memorandum between Naftogaz Ukraine and ExxonMobil, Yuriy Boiko said that the agreements would further strengthen the energy security of Ukraine.

"This agreement is another step towards the real energy security, strengthening our country because it involves the cooperation of leading companies of our country -" Naftogaz Ukraine "and the largest company in America -"ExxonMobil", which has experience in coal bed methane extraction. It is very important to increase the safety of our mines, for the methane extraction from coal beds, we thereby increase the safety of miners. That is why this cooperation is very beneficial for us and we intend to start it in nearest future", the Minister said.

Let us recall, February 16, 2011, in Houston, the Minister of Energy and Coal Industry of Ukraine Yuriy Boyko during a visit to the United States met with the leading power companies in U.S. and worldwide - ExxonMobil and Chevron.

During the meeting, Yuri Boyko got familiar with best practices in oil and gas industries, and discussed with the management several issues of cooperation in oil and gas sector, including the identification of priority projects in exploration and extraction of gas from alternative sources.

Among the measures in the frame of the meeting of Yuri Boyko with the leadership of company ExxonMobil a presentation of technologies on mining coal bed methane had place. During the meeting with the leadership of Chevron a presentation of technologies on rehabilitation of waste oil / gas exploration and production of shale gas well has been demonstrated.

Summing up the meeting, the Minister noted, that "the use of investment and experience of U.S. energy companies, bringing U.S. technical assistance and new technologies in oil and gas sector would greatly improve energy security not only in Ukraine but also in the European continent as a whole".