KIEV, Jan. 24 - Ukraine and Royal Dutch Shell on Thursday signed a production sharing agreement that opens the door for a major shale gas extraction project in the country, President Viktor Yanukovych’s press service reported.

The deal, which may become the country’s largest single foreign investment, was signed in Davos by Energy and Coal Industry Minister Eduard Stavytskiy and Peter Voser, the chief executive officer of Royal Dutch Shell.

It was signed in the presence of Yanukovych and Mark Rutte, the Dutch prime minister.

“Now, we have a joint responsibility because we gave birth to a new business,” Yanukovych said. “This is only the beginning and we will continue our relations.”