PPC's previous licence for exploration for the Zaplavska field was valid until 2019

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PPC's previous licence for exploration was valid until 2019. (Credit: Terry McGraw from Pixabay)

JKX announces that the Poltava Petroleum Company (PPC), its Ukrainian subsidiary, has been granted a new special permit for the Zaplavska field for the purpose of oil and gas production for a period of 20 years. This permit covers a total area of 173 square kilometres.

PPC’s previous licence for exploration for the Zaplavska field was valid until 2019. To date the company conducted 2D and 3D seismic surveys and drilled 5 exploration wells.

PPC plans to carry out a workover in the Zaplavska field by the end of 2020. Including the Zaplavska field licence, the company currently owns 6 production licences in Poltava region.

Source: Company Press Release