JKX Announces Start-up of Elizavetovskoye Field Development in Ukraine

UK-based JKX announced the start-up of its Elizavetovskoye field development in Ukraine, after the completion of the first development well E-301. 

‘The well is now flowing gas to the newly commissioned early production facility which is located some 35 km to the southeast of Poltava, Ukraine. The first export of gas took place on the 15 January 2014,’ reads a note released on Monday.

Gas is exported via an 11 km pipeline, which was connected to the Ukrainian gas production network in 2013. 

According to the plans, the well E301 is the first of five. The program aims at tapping the Permian A2 carbonate reservoir.

“Start up at the Elizavetovskoye field has been achieved on time and on budget and reflects the strength and depth of the engineering and management capability of our Ukrainian subsidiary, Poltava Petroleum Company (PPC). We look forward to PPC implementing similar projects in the near future,” JKX Chief Executive Paul Davies commented in the note. 

JKX Oil & Gas is an exploration and production company listed on the London Stock Exchange, with interests in Ukraine, Russia, Hungary and Slovakia.

JKX’s strategy does not change despite the recent arm wrestling between the company’s management and the two major shareholders. Davies restated the intention to focus on production growth in Ukraine and expansion in Russia.