Britain’s Cadogan Petroleum Plc with assets in Ukraine after a work-over to stimulate the Blazh-1 well on the Monastyretske field in Lviv region has almost doubled production at the well, to 63 barrels per day (bpd), which allowed boosting Cadogan’s current production (oil and gas combined) has increased by 15.3%.
“As a result of this stimulation, Cadogan’s current production (oil and gas combined) has increased to 219 boepd (205 boepd net to Cadogan),” the company said on the London Stock Exchange on Thursday.
According to the report, the team and the equipment have been relocated to the Blazh-3 well to execute a work-over and chemical treatment. This operation is scheduled to be completed in approximately four weeks.
Horizon Capital, an asset management company, that invested over $500 million via private equity funds, plans to invest $100-200 million more in the country in the coming five years, Horizon Capital founder and CEO Lenna Koszarny has said.
“We continue investing after this difficult 2013-2014 period – more than $50 million over this period. Our plans for the next five years are to invest another $100-200 million. Now we see many opportunities,” she said in an interview with the Business weekly.
According to her, at present the company is discussing the possibilities of entering into the charter capital with more than 30 companies, trying to find “founders-visionaries”.
Koszarny said that the offer of lending to Ukrainian business has recently increased. It must be supplemented with foreign direct investment (FDI), and its volume today is only $1-1.5 billion per year.
“For five years, I would like to see investments at $6-7 billion annually: from America, Europe, but also from the Middle East, Asia, India and China,” the Horizon Capital CEO said.
According to Koszarny, the IT industry can be the driver of export for Ukraine due to the switch from the model of export of raw materials to the model of export of goods and services with high added value.
Horizon Capital was established in 2006. It manages private equity funds Western NIS Enterprise Fund (WNISEF, established in 1994 with a capital of $150 million), Emerging Europe Growth Fund, L.P. (EEGF, established in 2006 with a capital of $132 million) and EEGF II (EEGF, established in 2008 with $370 million capital).
The money of these funds is invested in projects in Ukraine, Moldova, and Belarus.
In June 2016, OPIC (Overseas Private Investment Corporation) said that the OPIC would provide up to $37.5 million to EEGF III launched by Horizon Capital for the period of up to 10 years.
JSC Lekhim pharmaceutical company (Kyiv) in 2017 posted UAH 101.7 million of net profit, which is 6% more than in 2016 (UAH 95.5 million).
According to information on the agenda of a general shareholders’ meeting scheduled for March 27, the assets of Lekhim amounted to UAH 647 million, which is 9.7% higher than in the previous year.
Total debtor indebtedness in 2017 decreased by 3.7%, to UAH 458 million.
As reported, in 2016 Lekhim saw net profit rise by 19% compared to 2015.
Lekhim was founded in 1992. The group of companies headed by Lekhim includes PrJSC Lekhim-Kharkiv and CJSC Technolog.
Assets of the National Bank of Ukraine (NBU) as of January 1, 2018 reached UAH 1.026 trillion, which is 9.1% more than as of January 1, 2017, including a rise of 3.7% in the fourth quarter of 2017.
The central bank published the relevant figures on Thursday.
According to the report, funds and deposits in foreign currency and bank metals halved, to UAH 25.17 billion (8.2% up in Q4 2017) and securities of nonresidents grew by 50.5%, to UAH 414.46 billion (11.4% up in Q4 2017).
The cost of banknotes and coins in circulation grew by 6% in a year or by UAH 20.5 billion, to UAH 361.54 billion, including a 9.6% rise in Q4 2017.
Funds of state-owned and other institutions fell by 43.3% in Q4 2017 and grew by 15.6% in 2017, to UAH 56.08 billion.
The amount of deposit certificates has not significantly changed – UAH 67.19 billion compared with UAH 68.17 billion a year ago, and funds of banks narrowed – UAH 40 billion against UAH 44.3 billion.
NBU’s commitments to the International Monetary Fund (IMF) grew by 21.5% in 2017, to UAH 206.25 billion.
Net worth last year grew by 41.2%, to UAH 208.5 billion thanks to growth of reserves after the revaluation of assets and commitments by 64.8% or UAH 60.4 billion, to UAH 153.69 billion.
The Slovak company Nafta intends to take part in the development of Yuzivska deposit (Kharkiv and Donetsk regions), the press service of the Association of Gas Producers of Ukraine has said, with reference to the head of the Nafta exploration and production department, Jozef Levoca.
“The representatives of Nafta [at a meeting with the association] told about their plans to participate in the project on implementing the production sharing agreement and readiness to drill at least 15 new wells on Yuzivska site and invest up to $200 million in exploration in the first five years,” the association said.
As reported, the leading Slovak oil and gas company Nafta and Cub Energy (the United States) intend to drill their first well on Uzhgorod gas deposit in 2018. Nafta acquired 50% in Uzhgorod gas area from Cub Energy in summer 2016.
HarvEast agroholding this year will allocate 50 hectares of its areas for the cultivation of hybrid maize, provided by Maisadour seed company, director general of the holding Dmytro Skorniakov has said.
“Of all the irrigated areas, one-third is allocated for sunflower, 150 hectares for hybrid maize, of which 50 hectares for Maisadour. The rest of the irrigated areas are for hybridization of rapeseeds, wheat, beans,” he said during the signing of agreements on cooperation with Maisadour in Kyiv.
The companies also reported on the agreement on cooperation under the license contract after two years of negotiations. This agreement will allow HarvEast to grow its own hybrids on the genetic basis of the French company. HarvEast is an agricultural holding. Its core business is crop production (growing wheat, sunflower, barley, perennial grasses, and corn) and dairy farming. HarvEast Holding was established on March 10, 2011 on the basis of the agricultural assets of Mariupol-based PJSC Illich steel mill (Donetsk region). The shareholders of HarvEast are System Capital Management and Smart-Holding.
