Cadogan Energy Solutions plc announced an update on two new business development initiatives. In Ukraine, the Company is expanding into the electricity generation activities while significantly 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 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.