KIEV, Jan. 12 - Ukraine's government commission on Friday failed to approve a draft production sharing agreement with Vanco Energy, a U.S. independent oil company, over exploration and development of an area offshore the Black Sea.

"The ministries and departments concerned have been directed to take steps to review this draft agreement with Vanco,??? Interfax-Ukraine reported citing the government??™s press release. ???After reaching understanding, the draft will be submitted to the commission with the corresponding conclusions and recommendations."