REUTERS
The company is ready to resume production as soon as the license is issued.
UK-based Cadogan Petroleum, the oil and gas company with assets in Ukraine, has suspended gas production in Ukraine due to non-renewal of a special permit.
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This refers to a 20-year production license for the Blazhivske field in Lviv region, where the company operates. The license has expired on November 18, the company said in a statement.
It is noted that Cadogan Petroleum's subsidiary Yusenko Nadra had submitted an application to the State Service of Geology and Mineral Resources of Ukraine almost five months before the expiration of the previous special permit for the development of the field. What is more, Lviv Regional Council in October voted in favor of granting a new license to the company.
Cadogan Petroleum says it is ready to resume production immediately after the new permit is issued.
UNIAN memo. UK-based Cadogan Petroleum Plc is engaged in oil and gas production in Ukraine. It owns eight licenses. The company is listed on the London Stock Exchange.