PJSC Ukrnafta paid UAH 784.9 million in overdue tax debt to the national budget from January to July 2018, the company's press service said on Thursday.

"Ukrnafta's base-case scenario provides for the return of UAH 1.2 billion in debt in 2018. As of June 30, the amount of Ukrnafta's overdue debt was UAH 11.05 billion," the company said.

As of the end of 2017, Ukrnafta estimated the amount of its overdue tax debt at UAH 11.85 billion. The State Fiscal Service of Ukraine estimates this figure at a larger amount.

The company notes that the risks of paying off the tax debt may be problems with the extension of special permits for subsoil use, as well as with the sale of oil through auctions.

Ukrnafta is the country's largest oil producer. NJSC Naftogaz of Ukraine owns 50% + one share of Ukrnafta, while a group of companies affiliated with former shareholders of PrivatBank holds about 42% of shares.