Cadogan Energy Solutions Plc Update on development initiatives

 
TIDMCAD 
 
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 
whilesignificantly 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 KhalloufChief Executive Officer f.khallouf@cadogan-es.com 
Ben Harber Company Secretary +44 0207 264 4366 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END

(END) Dow Jones Newswires

November 13, 2023 05:50 ET (10:50 GMT)

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