JKX Oil&Gas sells its subsidiary in Hungary for US$ 3 million
British oil and gas company JKX Oil&Gas, with assets in Ukraine and Russia, has agreed the terms of the sale of its Hungarian subsidiary Folyopart Energia KFT (Riverside Energy KFT) to Cypriot Starhol Holding Limited at US$ 2.9 million.
According to the Company’s website, the agreement is currently being approved by the Antimonopoly Committee of Ukraine. The review shall be completed in 4-8 weeks.
Riverside owns a number of licensed production areas in Hungary, has equipped facilities, but does not currently produce hydrocarbons. JKX Oil&Gas is engaged in the exploration and production of hydrocarbons in Ukraine, the Russian Federation and Hungary.
JKX Oil&Gas Plc, which shares have been listed on the London Stock Exchange since 1995, owns 100% of the Ukrainian-British Joint Venture Poltava Petroleum Company, established in 1994. The Group’s annual production in 2019 increased by 20%, from 8,937 boepd to 10,748 boepd.
In Russia, the Company production remained at the level of the previous year, 5,158 boepd. In Hungary, in 2019, JKX Oil&Gas has increased its hydrocarbon production by 93%, from 6 to 91 boepd.
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ODESA OFFSHORE CONFERENCE-2019
Ukraine has every chance to resume the work of the most promising oil and gas region, the Southern oil&gas fields. The untapped deposits of oil and gas are located both onshore and subsea. Four companies have already poised to conclude Production Sharing Agreements with Ukraine, whilst bidding for the Dolphin oil&gas fields on Black Sea shelf. The Odesa Offshore Conference (OOC2019) will serve as a venue for Ukrainian and international bidders to meet with local and international drilling, oilfield service and equipment manufacturers to kick-off emerging subsea and onshore projects in Ukraine.
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Carpathian Oil&Gas Conference-2019
The development of oil&gas industry, introduction and implementation of new E&P technologies, stimulation, workovers &recovery of oil&gas wells will be among upstream focal points of the FIRST DAY of COGC2019 - 23 May. The SECOND DAY of Conference will be devoted to midstream, downstream, and trade in hydrocarbons, to spotlight the nowadays dynamics and robust changes in the Ukrainian oil&gas market. The Ukrainian Gas Market day of 24 May 2019 will become a marketplace venue for natural gas traders and natural gas transmission & distribution companies to meet and discuss prospective deals in the UAH 200 billion natural gas market of Ukraine.