The Ukrainian government extended the terms for a shale exploration license by five years, JKX Oil and Gas announced Thursday. JKX, which has headquarters in London, said its exploration permit for the Zaplavskoye license was extended through December 2019. The reserve basin surrounds four other areas where the company is working to extract reserves locked in shale. Ukraine is one of the Eastern European countries rich in shale natural gas. JKX said its production in Ukraine for 2013 averaged 9,731 barrels of oil equivalent per day, an 18 percent increase from the previous year. By the government’s estimates , there may be enough natural gas in shale reserve areas to meet the country’s needs without imports. Ukraine, with the help of European negotiators, brokered an […]