Ukraine is in talks with U.S. companies on joint projects to develop the Black Sea shelf, Ukraine's fuel and energy minister said on Friday.
"It is too soon to make any forecasts now, but we are considering the implementation of these projects... over a period of about four years," Yuriy Boiko said in an interview with government newspaper Uryadovy Kuryer.
He did not name the U.S. companies with which Ukraine is allegedly holding negotiations.
The minister said major changes should take place in the country's oil and gas sector before the end of 2014, including the start of commercial hydrocarbon production on the shelf as well as alternative energy production.
He said the Black Sea shelf had estimated reserves of 3.5 trillion cubic meters of gas, most of which was located in the deepwater part of the shelf starting at a depth of 800 meters.
Boiko said development of such fields required advanced technology and significant financial resources, which Ukraine does not have at present.
KIEV, June 25 (RIA Novosti)
