News

JV PPC announced production results for 2021

January 18, Kyiv – JV Poltava Petroleum Company (JV PPC), a subsidiary of JKX Oil&Gas plc, announced its 2021 production results.

Gas production for the twelve months of 2021 amounted to 196.9 million m³, oil and condensate – 41.7 thousand tons.

Since the beginning of 2021, JV PPC has drilled 2 new wells, drilled 2 sidetracks and completed 15 well workovers.

“The JKX/PPC team started 2021 with the resumption of the work program. We have implemented a number of successful projects, although we operate with 85% naturally depleted well stock. 2021 was successful in terms of selling hydrocarbons at record prices, so the Company is ending the year with strong financial performance.

Our plans for 2022: the search and acquisition of new licenses is the number one task, as well as the unconditional successful implementation of the work program and participation in the PEC tender,” said Viсtor Gladun, СЕО of JKX and JV PPC.

In 2021, a decision was made by 97.29% of the votes to support the proposal of the Board of Directors of JKX to delist the Group on the London Stock Exchange.

On January 24, 2022, it is planned to re-register the Company as a private British company with foreign investments (LTD).

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 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. The company owns 6 operating licenses within the Poltava region. The Poltava Petroleum Company uses modern technologies and methods to achieve Ukraine’s energy independence.

The parent company, JKX Oil&Gas plc, is governed by a Board of Directors. Victor Gladun is CEO of JV PPC and JKX Oil&Gas plc.