Poltava Petroleum Company JV (PPC) by the end of February will start drilling well E308 in the Yelyzavetivske field (Poltava region), the company’s press service has reported.
“JV Poltava Petroleum Company (PPC) announces decision to resume its drilling program in Ukraine. According to the company’s new development strategy for 2018, drilling of the first well E308 should begin at Yelyzavetivske deposit by the end of February. Projected well depth is 3,000 meters. As of today, pre-drilling activities are underway while the tender to select a drilling operator is being finalized,” the company said.
The company said that one of the primary factors motivating the decision was the amendment adopted by the Ukrainian parliament late 2017, which reduced royalty rates for new gas wells.