News

JV PPC totaled UAH 543.2 million in rent to the state budget for 10 months of 2021

November 25, Kyiv – JV Poltava Petroleum Company (hereinafter – JV PPC) counted 543.2 million hryvnia in rent to the state budget of Ukraine for 10 months of work, of which 27.1 million hryvnia is replenished local budgets of Poltava region, in particular :

• To the regional budget – UAH 10.8 million;
• To the budgets of village councils – UAH 16.2 million.

The rent is formed from two components: the amount of extracted raw materials and the price of hydrocarbons. Taking into account the favorable pricing environment, JV PPC resumed its work program during 2021 and continues to pay in good faith the rent for the use of subsoil resources to the budgets of all levels.

“The activity of oil and gas producing companies is extremely important for filling not only the state budget, but also makes up the lion’s share in the formation of local budgets. The rental income received from the PPC can be used by communities to develop territories, improve infrastructure and support educational institutions. Moreover, the Company has additionally implemented, on a charitable basis, a number of socially important projects aimed at improving the living standards of the local population, ”commented Viсtor Gladun, СЕО of JV PPC.

So, from January to November 2021, the JV PPC entered into a number of social agreements and provided UAH 3.1 million in non-repayable financial assistance. In particular, the Company joined the development of the Park of Medical Workers and financed the repair of an artesian well and street lighting in the village. Nekhvoroshche, carried out the repair of a section of the road to the Andreevsky Lyceum, implemented the construction of a water supply system in the village of Bazilivshchina, provided support to educational institutions and sports organizations of Novosanzharshchina.

Reference

JV Poltava Petroleum Company is a Ukrainian-British joint venture established in 1994 and is a subsidiary of JKX Oil & Gas plc. JV PPC is one of the leaders among the non-state oil and gas companies in Ukraine. The company’s field of activity is the search, exploration, production and treatment of gas and oil. Poltava Petroleum Company uses the most modern technologies and methods to achieve energy independence for Ukraine.
 The CEO of JV PPC and JKX Oil & Gas plc is Viktor Gladun, who has been heading the company since 2016.