Business news from Ukraine

JKX REDUCES AVERAGE DAILY HYDROCARBON PRODUCTION BY 5%

19 January , 2021  

JKX Oil & Gas with assets in Ukraine and Russia in 2020 reduced average daily production of hydrocarbons by 5% compared to 2019, to 10,238 barrels of oil equivalent per day (boepd), the company said on the website of the London Stock Exchange.
Production in Ukraine decreased by 13%, to 4,849 boepd, in particular gas production fell by 15%, to 653,000 cubic meters per day (Mcmd), while oil and condensate by 5%, to 1,007 boepd.
Production of hydrocarbons in Russia increased by 4% and amounted to 5,389 boepd, in particular gas production to 905,000 cubic meters per day, condensate to 61 boepd.
JKX points out that in the fourth quarter of last year, compared to the previous quarter, production decreased by 4%, to 9,825 boepd due to a drop in production in Ukraine by 8%, to 4,351 boepd. In particular, gas production in Ukraine fell by 7%, to 592,000 cubic meters per day, oil and condensate by 10%, to 965 boepd.
JKX notes that the reduction in production is associated with a significant reduction in drilling and workover, but indicates that two new wells were drilled in Ukraine in the fourth quarter – IG146 on Ihnativske field with a current flow rate of 6 million cubic meters per day and 35 boepd and the side part of NN75 on Novo-Mykolaivske field with a current flow rate of 80 boepd.

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