KIEV, Oct. 4 - Britain's Cadogan Petroleum Plc and Ukraine's Nadra Ukrayiny have completed an agreement to sell 50.01% of the joint venture LLC Westgasinvest, located in the Ivano-Frankivsk region, to Italy's Eni S.p.A.

"LLC Westgasinvest currently holds subsoil rights to nine unconventional (shale) gas license areas in the Lviv Basin of Ukraine, totaling approximately 3,800 square kilometers of acreage. The Lviv Basin is considered to be one of the most attractive basins in Europe for the exploration of unconventional gas, being a continuation of the Lublin Basin in Poland which has already attracted substantial interest from the hydrocarbon industry," the Cadogan announcement said.