JKX Granted New 20-year Permit for the Zaplavska Field in Ukraine
Eastern Europe-focused E&P company JKX Oil & Gas Plc, through its wholly-owned Ukrainian subsidiary Poltava Petroleum Co. (PPC), has been granted a new special permit for the Zaplavska field. The permit has been granted for the purpose of oil and natural gas production for a period of 20 years. The company’s previous license was valid until 2019.
The Zaplavska field covers an area of 173 sq. km and is located in the Novomykolaivske Complex in the Poltava region of Ukraine. PPC has completed 2D and 3D seismic surveys and drilled five exploration wells within the license till date. The company now plans to complete a workover in the field by the end of 2020.
London-listed JKX is engaged in exploration, development, and production activities in Ukraine, Russia, and Hungary, and currently holds six production licenses in Ukraine. The company is one of the largest non-state producers of oil and gas within Ukraine, and PPC is the only non-state oil and gas company with a connection to the Soyuz pipeline, which transports gas directly into Ukrainian and European market.