JKX has announced that its Ukrainian subsidiary Poltava Petroleum Company (PPC) has secured a 20 year permit for the Zaplavska field for oil and gas production.
This special permit covers an area of 173km². PPC’s earlier licence for exploration of the Zaplavska field was valid until last year.
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The firm has to date carried out 2D and 3D seismic surveys and drilled five exploration wells.
PPC intends to conduct a workover in the Zaplavska field by the end of 2020.
With the inclusion of Zaplavska field licence, JKX owns six production licences in the Poltava region.
JKX Oil & Gas is a British-based hydrocarbon exploration and production company.
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By GlobalDataIt operates primarily in Russia and Ukraine, but has a presence in Europe and North America.
The country is claimed to have 1.1 trillion cubic metres of proven gas reserves, which is the second largest in Europe.
Earlier this month, in a quarterly operations update, the firm stated that the group’s production was up 3% year-on-year, from 10,132 barrels of oil equivalent per day (boepd) in H1 2019 to 10,445 boepd in H1 2020.
The group’s production was down 10% quarter-on-quarter as drilling and workover rigs were kept on standby in Ukraine for the majority of the reporting period due to Covid-19 restrictions.
Furthermore, two routine plant shutdowns in Russia and Ukraine led to a drop in average group production in Q2 2020.
The firm also stated that one new well is scheduled to be drilled in Ukraine late in Q3 2020.
