Eni will buy 50,01% of the Ukrainian energy company LLC Westgasinvest. The agreement was signed with the state-owned National Joint Stock Company Nak Nadra Ukrayny and with Cadogan Petroleum. By mid-morning, Eni's stock gained 1,2% in Piazza Affari.
Llc Westgasinvest currently holds the rights to nine blocks for the exploration and development of unconventional gas (shale gas) in the Lviv basin, in western Ukraine, near the border with Poland. The blocks cover a total of approximately 3.800 square kilometres.
The Lviv basin is considered one of the areas with the highest potential in Europe for unconventional gas exploration. It is an extension of the Polish Lublin Basin, which has attracted significant interest from the hydrocarbon industry.
