JKX Oil and Gas plc has presented its consolidated report on payments to the budgets of the countries, where the Company provides activities related to exploration, development and extraction of oil and gas resources for 2017. The information was published on London Stock Exchange website.
The Company discloses payments made to the national, regional or local authority of a country.
Below the payments made by JV “Poltava Petroleum Company” (PPC), a subsidiary of JKX Oil and Gas in Ukraine, are presented.
Payments are presented in a reporting currency – US$, based on the exchange rate existing at the time the payment is made.
| Production taxes | Corporate income taxes | Infrastructure improvements | Fees | Total | |
| $’000 | $’000 | $’000 | $’000 | $’000 | |
| Ukraine | |||||
| State treasury: State budget | 15,030 | 2,934 | – | – | 17,964 |
| State treasury: Local budget | – | – | 142 | – | 142 |
| Total Ukraine | 15,030 | 2,934 | 142 | – | 18,106 |
Payments to governments by project type made during 2017:
| Production taxes | Corporate income taxes | Infrastructure improvements | Fees | Total | |
| $’000 | $’000 | $’000 | $’000 | $’000 | |
| Ukraine | |||||
| Novomykolaivske Complex | 10,335 | – | 114 | – | 10,449 |
| Elyzavetivske field | 4,695 | – | 28 | – | 4,723 |
| Payment at an entity level | – | 2,934 | – | – | 2,934 |
| Total Ukraine | 15,030 | 2,934 | 142 | – | 18,106 |
More details about the Report can be found following the link.