Tysagaz resumes gas production
In mid June 2018 the Tysagaz LLC resumed gas production in Zakarpattia region. The production in June 2018 was 51.45 K cbm. Starting July 2018 the 24-hour production was less than 3 K cbm.
The Tysagaz LLC develops two oil&gas fields in Zakarpattia region, the Romanian-Komarivsk field ( 7 sq.km ) and the Stanivske field (127 sq. km). Additionally, Cub Energy owns 50% share in Uzhgorodske gas field, which is jointly developed with Nafta (Slovakia). Three wells are planned for drilling in 2018.
Over the last two years the Tysagaz LLC has not been producing any gas. Because of the stringent quality requirements set by Ukrtransgaz for the produced gas feed-ins into nationwide gas transportation system, in April 2016 the Tysagaz LLC stopped its gas production. At this disruption point the 24-hour production by the Tysagaz LLC was 90 K cbm.
According to the Unified Register of Individual Entrepreneurs and Business Entities of Ukraine, the founder of the Tysagaz LLC is the Cyprys-based Pi International Energy Limited with Mykhailo Afendikov as its final beneficiary. According to open sources, Mr. Afendikov is the major shareholder of the Cub Energy company headquarted in Houston, TX, USA. The Cub Energy company has the 35 % share of the Ukrainian-based oil&gas Cub-Gas, and the remaining 65 % share is owned by the Burisma Group.
The Zakarpattia-based Tysagaz LLC was bought by the Cub Energy in 2011 for $17 mil.