JKX Oil & Gas PLC - Report on Payments to Govts

RNS Number : 7692C

JKX Oil & Gas PLC

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 taxes	Corporate income taxes	Infrastructure improvements	Licence fees	Total
Governments	000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 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 taxes	Corporate income taxes	Infrastructure improvements	Licence fees	Total
	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 000	##PRELOADED_STATE## ##REACT_QUERY_STATE## ##CHUNKS## 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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