REG-Cadogan Energy Solutions Plc: Update on development initiatives

Cadogan Energy SolutionsAnnouncement

10/11/2023 07:15

10(th) November 2023


("Cadogan" or the "Company")
Update on development initiatives 

 

Cadogan Energy Solutions plc ("Cadogan" or the "Company") is pleased to
announce an update on two new business development initiatives.

 

In Ukraine, the Company is expanding into the electricity generation
activities while significantly reducing emissions into the atmosphere. The
current oil production on the Blazhiv field leads to a simultaneous production
of non-commercial, associated gas. Previously, this gas was released into the
atmosphere before a viable solution was found. 

 

Cadogan's new development project in Ukraine consists of capturing gas during
our production activities and using it to generate electricity which will be
sold on the grid. This project will achieve a highly significant drop in the
annual gas emissions of Cadogan as the intensity ratio will drop from 126 to
33 tons of CO2 e/Kboe.  At the same time, Cadogan will be producing
electricity, generating additional revenue.  We expect to be operational with
this valuable and sustainable initiative in Q1 2025.

 

In Italy, Cadogan owns a 90% interest in Exploenergy, an Italian company which
has filed applications for two gas exploration licenses located in the Po
Valley region in Northern Italy (Corsano and Reno Centese). Exploenergy has
been qualified by the authorities as a valid gas operator, able to develop its
activities in the two areas, thanks to the technical expertise, operational
support and the financial resources provided by the Group.

 

Cadogan Energy Solutions teams are dedicated to continue to improve the
current operations and our business model creating long term value for the
Company and its stakeholders.

 

 

About

Cadogan is an independent, energy company, which operates an exploration and
production license in Western Ukraine, conducts gas trading operations, and
provides services to E&P companies. The aim of the Company is to be a
diversified energy group making investments offering energy solutions and
alternative services with a lower environmental impact.

For further information, please contact:

Cadogan Energy Solutions plc 
Fady Khallouf Chief Executive Officer  f.khallouf@cadogan-es.com
Ben Harber  Company Secretary  +44 0207 264 4366

 

 

 



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