Oil and minerals

The Crimean Peninsula has a vast wealth of mineral resources. As of today, 346 mineral deposits have been identified in Crimea, of which 178 are being exploited. The most abundant are deposits of construction raw materials and minerals, underground sources of fresh and mineral water as well deposits of therapeutic muds and metallurgical raw materials.

Crimea has unique hydromineral salt deposits, namely, Sivashskoye and Sasyk Sivashskoye, which account for about half of all the table salt and nearly all the magnesium salt mined in Ukraine.

The level plains and offshore areas of the peninsula have over 30 explored free gas fields (around 47 billion cubic metres), 10 explored oil fields (2.8 million tonnes) and 7 explored gas condensate fields (over 5 million tonnes). In addition to that, the peninsula has one third of Ukraine’s massive limestone reserves, a large number of facing stone and natural stone deposits used in building construction and road breakstone as well as a few deposits of ceramic raw materials and expandable clays. Crimea’s iron ore basin is over 250 square kilometres wide, with industrial ore reserves exceeding 1.9 billion tonnes.

The Agency for Regional Development, set up by the Government of Crimea (Council of Ministers) to coordinate development efforts and promote the region amongst investors, is benefiting, since August 2010, from the support of a two-year project financed by the European Union and implemented by the United Nations Development Programme,
the EU/UNDP Regional Development Agency Support Project.