Enwell Energy PLC (LSE:ENW) has confirmed that production licenses for its MEX-GOL, SV, and VAS gas fields in Ukraine remain suspended as a result of sanctions imposed by the Ukrainian government targeting the company’s ultimate beneficial owners. Due to these restrictions, Enwell reported zero production during the second quarter of 2025.
The company is actively engaged in legal actions to contest the suspensions and is exploring alternative strategies to lessen the operational impact. Despite the ongoing regulatory hurdles in Ukraine, Enwell is progressing with development planning for its Svystunivsko-Chervonolutskyi (SC) exploration license area and currently holds a cash balance of around $100.7 million to support its activities.
About Enwell Energy
Enwell Energy is an oil and gas exploration and production company with a primary focus on Ukrainian assets. Its portfolio includes gas and condensate fields such as Mekhediviska-Golotvshinska, Svyrydivske, and Vasyschevskoye, alongside an exploration license for the Svystunivsko-Chervonolutskyi region. The company is committed to advancing its projects despite the challenging political and operational landscape.
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