News

JV PPC paid UAH 1.4 billion taxes during 2021

February 9, Kyiv – JV Poltava Petroleum Company (hereinafter referred to as JV PPC) paid UAH 1.4 billion taxes to the state budget during 2021, which is almost twice as much as in the same period last year (UAH 766 million in taxes for 2020) . Thus, 769.1 million hryvnias of this amount are rent payments for the use of subsoil received by the budgets of all levels.

“The significant increase in tax revenue is the result of rising hydrocarbon prices. 2021 has become a favorable year for the development of mining companies, in particular for investing in capital-intensive drilling projects,” said Victor Gladun, СЕО of JV PPC.

As a socially responsible business, PPC traditionally actively participates in the sustainable development of the Poltava region, where it operates. That is why the company implements joint projects with communities aimed at developing territories and improving the living standards of the local population through the conclusion of social agreements.

Thus, during 2021, PPC implemented a number of socially important projects of the Nekhvoroshchanska, Mashevska, Novosanzharska and Tereshkivska communities and allocated an additional UAH 3.3 million in charitable assistance. The funds were used to improve infrastructure and to develop communities.

Reference

JV Poltava Petroleum Company is a Ukrainian-British joint venture established in 1994 and is a subsidiary of JKX Oil & Gas LTD. 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 licenses for the exploitation of deposits within the Poltava region. Poltava Petroleum Company uses modern technologies and methods to achieve Ukraine’s energy independence.

The parent company, JKX Oil&Gas LTD, is managed by the Board of Directors. Victor Gladun is CEO of JV PPC and JKX Oil&Gas LTD.