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Gazprom, Naftogaz Plan Exploration in Black Sea, Kommersant Says

Russia’s OAO Gazprom and Ukraine’s NAK Naftogaz Ukrainy plan to sign an agreement on joint exploration in the Black Sea in the coming months, Kommersant-Ukraine newspaper said, citing an unidentified Gazprom official.

The companies will carry out exploration on the Pallas structure on the border between the countries in the northeast of the Black Sea, according to the paper. Naftogaz will own more than 50 percent in the venture, according to Kommersant.

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