Slovak NAFTA Buys 50% of Uzhhorod Gas Field
Monday, 11 July 2016, 16:23
Slovak oil company NAFTA has bought 50% of Uzhhorod gas field from U.S. Cub Energy Inc. for $1.5 million, Interfax-Ukraine cites a statement from NAFTA.
"We hope it will be the first step to create a NAFTA portfolio in Ukraine," NAFTA CEO Martin Bartošovič claimed.
In March 2016, Cub Energy Inc. received a 20-year permit to develop a 301 km2 (116 mi2) gas field in Uzhhorod Oblast.
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According to Cub Energy Inc., NAFTA will provide funds for 3-D seismic survey of 100 km2 (39 mi2) and drilling three holes within four years.
Texas-based Cub Energy Inc. claims it is one of top-five oil and gas operators in Ukraine. Its primary shareholder is businessman Mikhail Afendikov.
Source: Ukrayinska Pravda
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