KIEV - Enwell Energy plc (AIM: ENW), an oil and gas exploration and production group, has announced the lifting of suspensions on their Mekhediviska-Golotvshinska (MEX-GOL), Svyrydivske (SV), and Vasyschevskoye (VAS) production licences in Ukraine. This development followed interim rulings from the Poltava District Administrative Court, which were obtained on Monday.
The suspensions, initially ordered by the State Geologic and Subsoil Survey of Ukraine (SGSS) on November 15, 2024, were set to last 10 years starting from October 8, 2024. The suspensions forced Enwell to cease all field operations, including the shutdown of production operations on the affected licences.
Enwell quickly responded to the suspension orders by initiating legal proceedings in the Poltava District Administrative Court to challenge the orders. As part of these proceedings, the company sought interim relief to have the suspensions lifted while awaiting the court's decision on the substantive issues. The court's recent interim rulings have enabled the company to resume field operations, including production, on the affected licences.
The lifting of these suspensions allows Enwell to continue its operations in the region, which had been halted abruptly by the SGSS's orders. The company's swift legal action and the court's favorable interim decision have facilitated the resumption of its activities in Ukraine.
This news comes as a significant development for Enwell and its stakeholders, as the company navigates the regulatory environment in Ukraine. The information presented here is based on a press release statement from Enwell Energy plc.
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