At the urging of Houston’s Frontera Resources, Ukraine is offering an oil and gas tender for its first offshore block: a 9,772 square kilometer section of the continental Black Sea, near Romania. Called the Dolphin section, the block is to develop under a 50-year production sharing agreement that requires a minimum investment during the first five years to drill at least five exploratory wells. Frontera already produces oil and gas in the Black Sea, off the coast of Georgia. Romania, drilling in the Danube delta region of the Black Sea, is on track for a gas boom in the 2020s.
At the urging of Houston’s Frontera Resources, Ukraine is offering an oil and gas tender for its first offshore block
