The British refuse from the Ukrainian gas field

Британцы отказывается от украинского газового месторождения

Cadogan sees no economic sense in the development of Ukrainian gas fields

Cadogan Petroleum will not renew the special permit for Sloboda-Rumunske field.

British oil and gas company with assets in Ukraine Cadogan Petroleum will not renew the special permit for Sloboda-Rumunske field, reported the press service of the company.

The validity of the previous license of the company to the mine expired last month, however, given energy prices and the level of taxation, Cadogan sees no economic sense in its further development.

The company stressed that the decision will not affect the balance of the Cadogan, as the depreciation of the asset has already been taken into account as at the end of 2015.

Recall Gosgeonedr in 2015 has suspended the license of the Cadogan in Sloboda-Rumunske fields, citing the company admitted the violations. Subsequently, the action of the special permit was renewed.

Earlier, the State service of Geology and mineral resources has suspended permits for subsoil use in holubivs’ke (Dnipropetrovsk region), Yur’ivs’ke (Dnipropetrovsk region) and Lopushanskogo (Chernihiv region) deposits.

Demchyshyn, Ukraine has gas reserves for half a century

Source