Cadogan plans to renew special permits for two oil and gas fields in Ukraine

10:28, 23.12.2015 1 min read

Cadogan Petroleum, a British oil and gas company with assets in Ukraine, plans to renew special permits for Sloboda-Runhurska and Pokrovska oil and gas fields, the company reported on the website of the London Stock Exchange.

"The licenses were suspended by Ukrainian authorities because of two violations. Cadogan believes that the work on the licensed deposits is properly organized and provided the authorities with the necessary documents and evidence. Cadogan expects that the licenses will be renewed in the prescribed manner," reads the report.

Now Cadogan carries out extraction on Debeslavetska, Cheremkhivska and Monastyretska deposits. As of the end of November the production rate was 122 barrels of oil equivalent (boepd).

As reported, Cadogan oil and gas company develops fields in eastern and western Ukraine.