KIEV, July 12 - Ukraine plans to dramatically improve its energy security after signing a production sharing agreement with an ExxonMobil-led consortium over development of a major offshore natural gas deposit in the Black Sea, the energy and coal industry ministry said Friday.

Energy and Coal Industry Minister Eduard Stavytskiy met Kevin Biddle, ExxonMobil's European exploration director, and Steven Mann, ExxonMobil's senior adviser on international issues, on Thursday to discuss the PSA and other details of future cooperation.