UK oil exploration and production firm JKX has signed a contract with the oil services firm Schlumberger to stimulate 11 wells in the Ukraine.
The technical fleet has arrived at Poltava and it is expected that the work will begin within the next 2 weeks as part of the Rudenkivske field programme.
JKX say the Ukraine has a large-scale field development opportunity.
Rudenkivske is currently producing only 120 barrels per day according to 2016 figures, but JKX has ambitious plans to get that up to 18,000 barrels daily in 2020 to 2021
With official reserves of 1 tcm and gasbproduction of 20 bcma, Ukraine has a reserves life of up to 50 years, compared to 11 years in the US and 15 years in the EU.
JKX Oil holds a total of 6 fields in Ukraine alongside 1 Russian field and 9 other licenses spread over Hungary and Slovakia.
