Cadogan Petroleum temporarily stops production in Ukraine

British oil and gas company Cadogan Petroleum temporarily stops production in Ukraine through non-extension of special permit. This was reported by the press service.

It is about a 20-year special license for the production at Blazhivske oil field in Lviv region, where the company operates. The special license expires on November 18.

Yusenko Nadra, a subsidiary of Cadogan Petroleum, filed an application with the Public Service of Geology and Subsoil of Ukraine almost five months before the expiration of the previous special permit for the development of the field. In October, Lviv Regional Council voted positively to grant special permission to the company. The company needs to obtain permission from the Public Service of Geology and Subsoil.

“We have support of local authorities and the communities where we work. The company has all interim approvals. On November 18, the special permit expires; however, the decision of the Public Service of Geology and Subsoil of Ukraine is not yet available. The company is forced to temporarily stop oil production at the beginning of the winter crisis”, said Andriy Bilyi, General Director of the Ukrainian office of Cadogan Petroleum.

The company temporarily suspended production at Blazhivske field due to the inability to continue operating wells without a valid special permit.

Cadogan Petroleum is a British oil and gas company, listed on the London Stock Exchange and has been operating in Ukraine since 2006. The company is engaged in geological exploration and operation of licensed sites in Ukraine. The current production activities of the companies of the Cadogan group are concentrated in Lviv region.

Recall that Cadogan Petroleum sold two of its subsidiaries: public utility Gazvydobuvannya and Astroinvest-Ukraine. The company received $4 million for the sale.

It was previously reported that Cadogan Petroleum CEO Guido Michelotti has resigned.

Tags: gas, contracts, oil, hydrocarbon production, tariffs, legislation, The Minystry of Energy and Coal Mining, energy market, gas production, добыча нефти, drilling, Public Service of Geology and Subsoil of Ukraine, foreign affairs

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