On 26 September, Ukrnafta received from the State Geological Service of Ukraine 9 production licenses extended for 20 years. The licenses were issued for Zavodivske, Korzhivske, Koziivske, Pivdenno-Panasivske, Anastasivske, Artyukhivske, Rybalske, Lypovodolynske and Kachalivske fields, which expired earlier in 2017. These fields account for 20% of Ukrnafta’s production of oil and 16% of natural gas.
The company intends to restore production at all affected fields as soon as possible, as well as to resume supply of natural gas to 8 communities in Sumy oblast.
Ukrnafta is looking forward to extending 27 more licenses which will expire next year.
Since the time of stoppage of the first field on 31 March 2017 Ukrnafta missed close to 68 ktonnes of oil and condensate and 53 mln m3 of gas. The company also missed about UAH 1 bln in revenues and the state lost circa UAH 330 mln in tax revenues from rent alone.