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JKX Oil & Gas upgrades Ukraine LPG plant


Published Feb 14, 2013
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JKX announces Ukranian drilling update-Spotlight

JKX Oil & Gas says that the equipment for the upgrade of its LPG plant at the Novo-Nikolaevskoye Complex in Ukraine has shipped from the construction yard in Alberta, Canada. Commissioning of the new equipment is expected in May 2013.

The additional equipment will enable Poltava Petroleum Company (PPC), JKX's wholly owned subsidiary, to enhance the recovery of propane and deliver an overall 15% increase in LPG production with a commensurate increase in revenue. The total LPG yield at today's average gas composition will increase from approximately 1.94 tonnes/MMcf of gas produced to approximately 2.23 tonnes/MMcf.

Since commissioning its LPG plant in May 2011, PPC has continued to deliver into a competitive Ukrainian commercial market with realisations strengthening to over $1,000/ton.

Tags: JKX Oil & Gas plc



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