The Oleska shale gas deposit is an unconventional gas area in Lviv, Ivano-Frankivsk and Ternopil oblasts in Ukraine. It will begin production in 2017 and will produce natural gas and condensates. The total proven reserves of the Olesska gas field are around (1500 km<sup>3</sup>) and production is slated to be around . The total exploration investment is expected to be about US$350 million.
In December 2014, Chevron terminated the agreement with the Government of Ukraine. âÂÂWe have just terminated that PSA (product sharing agreement),â says Peter Clark, ChevronâÂÂs country manager. âÂÂWhen it was signed, things had to be done, but not all of them got done.âÂÂ