JKX Returns Ukraine Wells to Production
Eastern Europe-focused JKX Oil & Gas reported Monday that it has returned all of its wells in Ukraine to full production after the Ukrainian state gas distributor confirmed that the company could return to delivering gas to industrial customers.
Ukraine issued a decree at the end of November that directed all major industrial buyers to acquire their gas solely from the state-owned gas company Naftogaz during the three-month period between December 1 and February 28. This resulted in JKX's Ukrainian subsidiary being forced to shut in a proportion of its oil and gas production during this period.
In mid-February JKX launched arbitration proceedings against the Ukrainian government in an attempt to recover more than $180 million in rental fees that its subsidiary has paid on production of oil and gas in Ukraine since 2011.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Energy Services Sector Will Grow To $1 trillion In 2025
- Will A New Iran Nuclear Deal Be Agreed to in 2023?
- Shell Posts Record 2022 Profit
- Maritime Security Report Shows Incident Trends Down YoY
- Winter Storm Mara Update
- New SPR Bill Passes House
- Westwood: Several Macroeconomic Factors Make 2023 Unpredictable
- Keppel O&M To Deliver Guyana's Third FPSO To SBM Offshore
- Big Oil Shareholders Biggest 2022 Winners With Massive Payouts
- ADNOC Signs Deals With 23 Firms Worth $4.6 Billion
- What Bad Habits Should Oil and Gas Jobseekers Avoid?
- Top Headlines: Valaris Employee Reported Missing from Rig
- Big Oil Saw Record $199Bn Profits In 2022 But 2023 Will Be Different
- Biden To Support ConocoPhillips Alaska Oil Project, Defying Greens
- USA Drops 3 Gulf of Mexico Rigs
- USA Oil and Gas Employs Almost 1 Million in 2022
- Shell Makes Host of Company Changes
- Libya Sees More Deals After Eni's $8B Gas Investment
- $1 Trillion Green Investment Matches Fossil Fuels For First Time
- US Could 'Steal' Green Energy Investments From Other Regions
- Valaris Employee Reported Missing from Rig
- Louisiana, Texas To Gain Thousands of Energy Jobs At Start of 2023
- Gasoline and Diesel Prices Expected to Fall
- Is the USA Shale Boom Over?
- Higher Oil Prices Have Not Led to More Exploration
- Shell Finds Gas In Pensacola High-Impact Well Off UK
- Talos Makes Two Commercial Discoveries In Gulf Of Mexico
- Iran Oil Gushes Into Global Market
- Will Oil Hit $100 Per Barrel in 2023?
- Eni, Chevron Make Significant Gas Discovery Off Egypt