Exploration & Production
Cub Converts Ukrainian Project to 20-Year Production License
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Cub Energy Inc. has reported an update on its operations activities in Ukraine and that KUB-Gas LLC, a partially-owned subsidiary in which Cub has a 30% ownership interest, has successfully converted its Krutogorovskoye Licence to a 20-year production licence.
Mikhail Afendikov, Chairman and Chief Executive Officer, stated: "The conversion of the Krutogorovskoye license into a 20-year production license is a significant milestone for the company and opens the way for the full development of the license area. This conversion enhances our ability to increase production on our Eastern Fields."
Krutogorovskoye LicenceKUB-Gas has received Special Permit No. 5835 from the State Geological Service of Ukraine authorising full industrial production for a 20-year term on the Krutogorovskoye…
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