16:19 10.08.2017

JKX cuts average daily production in Ukraine by 9.1% in seven months of 2017

Oil and gas company JKX Oil & Gas Plc in January-July of 2017 reduced the average daily production of hydrocarbons in Ukraine by 9.1% (by 372 barrels of oil equivalent, boepd) compared to the same period in 2016, to 3,719 boepd.

According to a company report on the website of the London Stock Exchange, in particular, gas production fell by 5.3%, to 18 million cubic feet per day (MMcfd), oil and condensate by 22.7%, to 719 boepd.

At the same time, according to the website, the Russian assets of JKX demonstrated an even more rapid decline: the average daily production of hydrocarbons in January-July 2017 decreased by 23.9% (by 1,478 boepd), to 4,697 boepd. Gas production fell by 24%, to 27.9 MMcfd, oil and condensate by 21.5%, to 51 boepd.

However, JKX partially offset the decline in production in Ukraine and Russia by new production in Hungary. During this period, the average daily production of the company in this country was 158 boepd.

In general, the average daily production of hydrocarbons by JKX in all countries of its presence in January-July 2017 fell by 16.5%, to 8,575 boepd.

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