KIEV, April 13 – Ukraine and a consortium led by private U.S. oil company Vanco Energy signed an amicable agreement allowing exploration of massive oil and gas fields offshore the Black Sea.

Oleksandr Lavrynovych, the justice minister, told reporters on Wednesday the amicable agreement had been approved at a recent cabinet meeting.

The agreement ends more than two years of litigation between Vanco and Ukraine, opening door for investments to tap massive oil and gas fields offshore the Black Sea.