Kulczyk Oil gets 20-year production license
14 February 2012
Kulczyk Oil (KOV PW) announced yesterday Ukraine’s Fuel Ministry converted its Olgovskoye exploration 5-year license (owned by KUB-Gas, 70%-controlled by Kulczyk Oil) into 20-year production license. Under terms of the new license, production in the field is no longer limited. Currently, gross production from Olgovskoye license is 12 MMcf/d, representing approximately 65% of total production from all of Kulczyk’s licenses.
