TIDMJKX
RNS Number : 7692C
JKX Oil & Gas PLC
23 June 2021
23 June 2021
JKX Oil & Gas plc ("JKX" or the "Company")
Consolidated report on payments to governments
JKX Oil and Gas plc presents below its consolidated report on
payments to governments for the year ended 31 December 2020, for
activities related to exploration, development and extraction of
oil and gas resources.
The Company has prepared the following consolidated report in
accordance with DTR 4.3A of the Financial Conduct Authority
Disclosure and Transparency Rules and in compliance with the UK's
Reports on Payments to Governments Regulations 2014 (SI 2014/3209),
as amended by the Reports on Payments to Governments (Amendment)
Regulations 2015 (SI 2015/1928).
Basis of preparation
The Company discloses below payments made to governments by the
Company's subsidiaries involved in extractive activities. The term
'government' includes any national, regional or local authority of
a country, and includes a department, agency or entity that is a
subsidiary of a government or entity that is controlled by such
authority.
Reporting currency
Where payments have been made in currencies other than the
reporting currency (US$), the exchange rate existing at the time
the payment is made has been used.
Payment types disclosed at project level
"Project" is defined as "operational activities governed by a
single contract, license, lease, concession or similar legal
agreements and form the basis for payment liabilities with a
government". Where multiple such agreements are substantially
interconnected, this was considered a project for the purpose of
this report.
The payments are presented on a cash basis, net of any interest
and penalties on late tax payments or on underpaid tax.
There were no payments in kind made to a Government during the
year.
The following payment types are disclosed for legal entities
involved in extractive activities for the year ended 31 December
2020:
Corporate income taxes
Payments to governments based on taxable profits under
legislated income tax rules.
Production taxes
Payments to governments in relation to revenue or production
generated under licence agreements.
Infrastructure improvements
Such payments correspond to payments made for infrastructure
(for example roads) that form part of the fundamental facilities
and systems serving a community or area. Such payments are included
in the Report regardless of whether or not these payments
constitute a contractual obligation.
Excluded amounts
Taxes levied on consumption such as value added taxes, personal
income taxes, sales taxes, property and environmental taxes have
not been included in this report.
Payments summary
Payments to governments made during the year ended 31 December
2020:
Production Corporate Infrastructure Licence fees Total
taxes income taxes improvements
Governments $'000 $'000 $'000 $'000 $'000
----------- -------------- --------------- ------------- -------
Ukraine
----------- -------------- --------------- ------------- -------
State treasury:
State budget 12,205 4,250 - 115 16,570
----------- -------------- --------------- ------------- -------
State treasury:
Local budget - - 72 - 72
----------- -------------- --------------- ------------- -------
Total Ukraine 12,205 4,250 72 115 16,642
----------- -------------- --------------- ------------- -------
Russia
----------- -------------- --------------- ------------- -------
State treasury:
State budget 1,681 - - - 1,681
----------- -------------- --------------- ------------- -------
Total Russia 1,681 - - - 1,681
----------- -------------- --------------- ------------- -------
Hungary
----------- -------------- --------------- ------------- -------
State treasury:
State budget 2 - - - 2
----------- -------------- --------------- ------------- -------
State treasury:
Local budget - 10 - - 10
----------- -------------- --------------- ------------- -------
Total Hungary 2 10 - - 12
----------- -------------- --------------- ------------- -------
Grand Total 13,888 4,260 72 115 18,335
----------- -------------- --------------- ------------- -------
Payments to governments by project type made during the year
ended 31 December 2020:
Production Corporate Infrastructure Licence fees Total
taxes income taxes improvements
$'000 $'000 $'000 $'000 $'000
----------- -------------- --------------- ------------- -------
Ukraine
----------- -------------- --------------- ------------- -------
Novomykolaivske
Complex 9,679 - - 115 9,794
----------- -------------- --------------- ------------- -------
Elyzavetivske
field 2,526 - - - 2,526
----------- -------------- --------------- ------------- -------
Payment at an
entity level - 4,250 72 - 4,322
----------- -------------- --------------- ------------- -------
Total Ukraine 12,205 4,250 72 115 16,642
----------- -------------- --------------- ------------- -------
Russia - Koshekhablskoye
Field 1,681 - - - 1,681
----------- -------------- --------------- ------------- -------
Hungary - Hajdunanas
IV mining plot 2 10 - - 12
----------- -------------- --------------- ------------- -------
Grand Total 13,888 4,260 72 115 18,335
----------- -------------- --------------- ------------- -------
ENDS
JKX Oil & Gas plc +44 (0) 20 7323 4464
Dmytro Piddubnyy, Chief Financial Officer
EM Communications +44 (0) 20 7002 7858
Jeroen van de Crommenacker
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