PPC extended the license for the development of the Zaplavske gas field

Derzhheonadra extended the license for the Poltava Petroleum Company (PPC) Joint Venture, part of the British JKX Oil & Gas Plc, for exploration and pilot development of the Zaplavske gas field in the Poltava region. This is reported by the press service of JKX Oil & Gas.

According to the report, the new license was granted for 20 years.

During the validity term (from 2004 to 2019) of the previous license for mineral rights for the specified field, the company carried out 2D and 3D seismic surveys on an area of 173 sq.km. and drilled 5 exploration wells.

Also, the parent Company JKX Oil & Gas reported intentions to carry out workovers in some wells of Zaplavske field by the end of 2020.

Recall that in addition to the Zaplavske license, PPC holds 5 more licenses for mineral rights: Rudenkivske, Ihnativske, Novomykolaivske, Movchanivske and Yelizavetinske fields. Hydrocarbon production in 2019 increased by 52% to 5,584 thousand barrels per day, compared to 2018.

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