The Ukrnafta joint stock oil-extracting company intends to start drilling for oil in Yemen and Libya on concession conditions, Ukrainian Radio reported on Monday, cited by Kiev Post.
According to the report, cooperation opportunities with Iran are also being actively discussed. According to estimates by experts, the cost of oil drilling at these sites is one-third the cost of extracting oil in Ukraine.
Several draft projects to transport the extracted oil to Ukraine are being considered including substituting it for Russian oil or selling it abroad and then buying Russian oil, the report said – Albawaba.com
