The Group has a number of minor fields located in western Ukraine. These include the following:
- Debeslavtska licence area
An exploration and development licence and production licence, containing 0.3 mmboe of proved, probable and possible reserves (2008: 0.5 mmboe). This licence is currently producing [132.0] boepd (2008: 168.8 boepd).
- Cheremkhivska licence area
A production licence containing 0.1 mmboe of proved, probable and possible reserves (2008: 0.1 mmboe). This licence is currently producing [56.2] boepd (2008: 65.6 boepd).
- Slobodo-Rungerske licence area
An exploration and development licence, with no booked reserves and resources (2008: 20.0 mmboe of proved, probable and possible reserves and 10.3 mmboe prospective resources). This licence is currently producing [7.6] boepd (2008: 4.52 boepd).
During the year, oil and gas continued to be produced from certain of these fields and although modest, they are now producing at economic rates because of a considerable reduction in operating costs. Other minor non-strategic assets which were either sub-commercial or at the exploration stage were disposed of or allowed to expire. These include the Krasnoilske licence which expired December 2009, the Monastryetska license that expired in November 2009 and the Malynovetska licence which was annulled by the Government in November 2009. Some capital expenditure on certain minor fields is planned for 2010 to sustain production levels. In addition, subsurface analysis is planned to identify further potential on these licenses as well as evaluation of other opportunities for diversifying risk and obtaining additional capital through potential farm-outs.
