JKX Oil & Gas
Encyclopedia
JKX Oil & Gas plc is a British
-based hydrocarbon exploration and production
company, listed on the London Stock Exchange
. JKX operates primarily in Russia
and Ukraine
, but has a presence in six other countries in Europe
and North America
. In June 2011, VTB Capital plc, a subsidiary of Russian state bank VTB, increased its share in JKX Oil & Gas to 6.4%. The deal makes VTB bank the fourth largest shareholder in the company. Ihor Kolomoyskyi
, the co-owner of Privat Group
, remains the largest shareholder in JKX with a 27.06% stake.
and Paul Davies as JP Kenny Exploration & Production Ltd in 1995 to search for oil and gas in the former Soviet Union
.
and Russia
. In the former, JKX is the dominant private enterprise in exploration and production, accounting for over three-quarters of all oil and almost half of all gas produced by non-state-owned companies
. The firm has licence to operate in several mainly-onshore
oil field
s in the Poltava
region. The company moved into Russia in 2007 with the $
50 million purchase of Yuzhgazenergie, which holds the licence to exploit a gas field
in the Koshekhablsky District
in the south of the country.
it has a small stake in an exploration firm operated by Anadarko Petroleum Corporation
focusing on the Black Sea
; while it holds minority interest
s in several onshore exploration licences in Turkey
and eastern Bulgaria
.
JKX also holds an interest in an oil field in Shelby County, Texas
in the United States
, a 50% stake in two exploration licences in northern Hungary
and bought into three licences in Slovakia
in April 2008.
of 4.6 Moilbbl of crude oil
and 71.6 Gcuft of natural gas
.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
-based hydrocarbon exploration and production
Extraction of petroleum
The extraction of petroleum is the process by which usable petroleum is extracted and removed from the earth.-Locating the oil field:Geologists use seismic surveys to search for geological structures that may form oil reservoirs...
company, listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
. JKX operates primarily in Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and Ukraine
Ukraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
, but has a presence in six other countries in Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
and North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
. In June 2011, VTB Capital plc, a subsidiary of Russian state bank VTB, increased its share in JKX Oil & Gas to 6.4%. The deal makes VTB bank the fourth largest shareholder in the company. Ihor Kolomoyskyi
Ihor Kolomoyskyi
Ihor Valeriyovych Kolomoyskyi , known commonly as Igor Kolomoisky is an Ukrainian business oligarch, he has Israeli and Ukrainian citizenship although dual citizenship is prohibited in Ukraine. Kolomoyskyi is the leading partner of the Privat Group and former chairman of FC Dnipro Dnipropetrovsk....
, the co-owner of Privat Group
Privat Group
The Privat Group, or PrivatBank Group is a international business group, based in Ukraine and grouped around the Privatbank. Privat Group controls dozens of companies of virtually every industry in Ukraine, Ghana, Russia, Romania, United States and other countries. Steel, oil&gas, chemical, energy...
, remains the largest shareholder in JKX with a 27.06% stake.
History
The Company was founded by John KennyJohn Patrick Kenny
John Patrick Kenny is the founder of JKX Oil & Gas, one of the United Kingdom's largest oil production and exploration businesses.-Career:...
and Paul Davies as JP Kenny Exploration & Production Ltd in 1995 to search for oil and gas in the former Soviet Union
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....
.
Ukraine and Russia
The company concentrates principally on projects in UkraineUkraine
Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...
and Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
. In the former, JKX is the dominant private enterprise in exploration and production, accounting for over three-quarters of all oil and almost half of all gas produced by non-state-owned companies
Government-owned corporation
A government-owned corporation, state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, or parastatal is a legal entity created by a government to undertake commercial activities on behalf of an owner government...
. The firm has licence to operate in several mainly-onshore
Onshore (hydrocarbons)
Onshore, when used relative to hydrocarbons, refers to an oil, natural gas or condensate field that is under dry land or to activities or operations carried out in relation to such a field.-References:* *...
oil field
Oil field
An oil field is a region with an abundance of oil wells extracting petroleum from below ground. Because the oil reservoirs typically extend over a large area, possibly several hundred kilometres across, full exploitation entails multiple wells scattered across the area...
s in the Poltava
Poltava Oblast
Poltava Oblast is an oblast of central Ukraine. The administrative center of the oblast is the city of Poltava.Other important cities within the oblast include: Komsomolsk, Kremenchuk, Lubny and Myrhorod.-Geography:...
region. The company moved into Russia in 2007 with the $
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
50 million purchase of Yuzhgazenergie, which holds the licence to exploit a gas field
Natural gas field
Oil and natural gas are produced by the same geological process according fossil fuel suggestion: anaerobic decay of organic matter deep under the Earth's surface. As a consequence, oil and natural gas are often found together...
in the Koshekhablsky District
Koshekhablsky District
Koshekhablsky District is an administrative and a municipal district , one of the seven in the Republic of Adygea, Russia. It is located in the eastern portion of the republic and borders with Kurganinsky District of Krasnodar Krai in the north and northeast, Labinsky District of Krasnodar Krai in...
in the south of the country.
Rest of the world
JKX also has investments in six other countries around the world: in GeorgiaGeorgia (country)
Georgia is a sovereign state in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded to the west by the Black Sea, to the north by Russia, to the southwest by Turkey, to the south by Armenia, and to the southeast by Azerbaijan. The capital of...
it has a small stake in an exploration firm operated by Anadarko Petroleum Corporation
Anadarko Petroleum Corporation
Anadarko Petroleum Corporation is one of the world’s largest independent oil and gas exploration and production companies, with approximately 2.3 billion barrels of oil equivalent of proved reserves and production of 206 million BOE as of December 31, 2008. Anadarko employs a worldwide...
focusing on the Black Sea
Black Sea
The Black Sea is bounded by Europe, Anatolia and the Caucasus and is ultimately connected to the Atlantic Ocean via the Mediterranean and the Aegean seas and various straits. The Bosphorus strait connects it to the Sea of Marmara, and the strait of the Dardanelles connects that sea to the Aegean...
; while it holds minority interest
Minority interest
Minority interest in business is an accounting concept that refers to the portion of a subsidiary corporation's stock that is not owned by the parent corporation...
s in several onshore exploration licences in Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
and eastern Bulgaria
Bulgaria
Bulgaria , officially the Republic of Bulgaria , is a parliamentary democracy within a unitary constitutional republic in Southeast Europe. The country borders Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, as well as the Black Sea to the east...
.
JKX also holds an interest in an oil field in Shelby County, Texas
Shelby County, Texas
*Arcadia*Brooklyn*Center*Dreka *Huxley*Joaquin*Possum Trot*Shelbyville *Tenaha*Timpson*Weaver-Education:The following school districts serve Shelby County:*Center ISD*Excelsior ISD...
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, a 50% stake in two exploration licences in northern Hungary
Hungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
and bought into three licences in Slovakia
Slovakia
The Slovak Republic is a landlocked state in Central Europe. It has a population of over five million and an area of about . Slovakia is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east and Hungary to the south...
in April 2008.
Reserves
As of the end of 2007, JKX claimed reservesOil reserves
The total estimated amount of oil in an oil reservoir, including both producible and non-producible oil, is called oil in place. However, because of reservoir characteristics and limitations in petroleum extraction technologies, only a fraction of this oil can be brought to the surface, and it is...
of 4.6 Moilbbl of crude oil
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
and 71.6 Gcuft of natural gas
Natural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
.