Mavriky Kalugin appointed COO of Pennpetro Energy

The UK-based company Pennpetro Energy plc announced on October 16 the appointment of Mavriky Kalugin as Executive Director and Chief Operating Officer (COO), who will be responsible for the company’s technical and operational activities. Kalugin confirmed his appointment to ExPro.

The appointment follows the company’s announcement on September 25, 2025, regarding its intention to appoint a third Executive Director, in addition to the two nominated by RMD Group to Pennpetro’s board.

As ExPro previously reported, Pennpetro Energy announced the signing of an agreement to acquire 100% of the rights to the Limnytskyi oil and gas license in Western Ukraine.

Who is Mavriky Kalugin?

Mavriky Kalugin has over 28 years of experience in the oil and gas sector and extensive international expertise in managing upstream and service companies, greenfield development projects, and production optimization.

Before his appointment, he served as Executive Director and COO of Naftogaz Group of Ukraine, from which he departed on January 31, 2023, as reported by NaftoRynok.

Kalugin also worked at Ukrnafta as Deputy Chairman of the Executive Board and Executive Vice President for Production and Refining (COO). Previously, he held senior positions at Petrofac, Cairn India, TNK-BP, ConocoPhillips, and ARCO-Alaska. He holds a BSc in Chemical Engineering from the University of Idaho (USA) and is a U.S. citizen from Alaska.

“Appointing Mavriky to our board brings exceptional knowledge and hands-on experience with Ukraine’s oil and gas sector, as well as an understanding of the opportunities opened by securing the Limnytska oil and gas exploration licence located in the Carpathian basin in western Ukraine,” said Pennpetro Energy Chairman Stephen Lunn.

Mavriky Kalugin at the ExPro Carpathian Oil & Gas Conference 2019

Kalugin said he was pleased to join Pennpetro Energy at a pivotal time following the announcement of the Ukrainian licence.

“I have extensive experience working in the Ukrainian market and look forward to leveraging my international background to advance future projects and increase shareholder value,” he noted.

Who is Pennpetro Energy?

Pennpetro Energy Plc is a public company registered in 2016 in England and Wales. The company is engaged in oil and gas exploration and production, focusing on onshore projects in Texas (USA), particularly in Gonzales County, where it holds rights to more than 2,500 acres. Pennpetro operates through several subsidiaries, including Pennpetro USA Corp., Nobel Petroleum LLC, and Pennpetro Greentec UK Limited.

The company’s shares were traded on the London Stock Exchange under the ticker PPP. In 2024, Pennpetro reported revenue of around £0.5 million with a net loss of £8.9 million. Recently, the company has also been involved in joint gas and lithium exploration projects, notably through its partnership with Globalvision International LDA.

Where to find natural gas market analytics?

Detailed analytics of the natural gas market in Ukraine, including production, imports, exports, UGS reserves, trading results, natural gas prices, key news, etc., are published in specialized publications ExPro Daily Gas, ExPro Gas&Oil Weekly, and ExPro Gas&Oil Monthly.

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