Cub Energy Inc (KUB)

[JonnyRBuck12]

Another article done on January 15th 2019 regarding once again Cub Energy's JV Partner. Both the December and January articles mention Cub Energy Inc, which verifies that this is the actual partner.

https://venergetike.sk/nafta-investovala-do-spolahlivej-a-bezpecnej-prevadzky/

January 15, 2019 10:35 Gas News from vEnergetike.sk vEnergetike.sk/NAFTA

NAFTA has invested in reliable and safe operation
The operator of underground gas storage facilities was also active in the west of Ukraine.

Last year, NAFTA's investments were mainly directed to reliable and safe operation. “In operating operations, we focus on increasing operational safety, which is extremely important for NAFTA. Investments are geared towards security, increased automation, and the use of a wealth of collected information to further optimize processes. We are constantly working on improving the safety of our facilities, protecting the health of our employees, suppliers and people living in the vicinity of our operations and protecting the environment, ”said NAFTA spokeswoman Martina Štecová.

Last year, the company continued its projects on foreign markets. "In this context, we have expressed an interest in taking over the underground storage facilities of Inzenham, Wolfersberg and Breitbrunn in Bavaria, Germany, and we have signed a sales agreement with DEA ??Deutsche Erdoel AG in early 2018," Štecová added.

The operator of underground gas storage facilities was also active in the west of Ukraine. “As part of our international activities, we have been developing exploration activities in Uzhgorod, where NAFTA is actively working with Cub Energy Inc. In 2017, 3D seismic measurements were made on 118 square kilometers. Last year, the entry and clearance of land for drilling areas and access roads was provided; legislative permits and preparation for the implementation of exploration wells scheduled for this year. In this area we see a similar geological trend as in Slovakia, which gives us the opportunity to fully exploit our long-term knowledge and experience in the exploration and production of hydrocarbons, ”added Štecová.

NAFTA also continued its exploration project around Trnava with a company from Vermillion Energy Inc. In 2017, a 3D seismic measurement was carried out on an area of ??approximately 250 square kilometers, which is the largest 3D seismic project implemented in Slovakia. “Last year, the 2017 3D seismic data were interpreted and the brochures were identified. We are currently preparing drilling projects, ”said Štecová.

In order to increase efficiency, NAFTA has concluded a cooperation agreement with OMV Austria Exploration & Production GmbH. “The subject of the contract was mutual support in the event of an emergency in the future. In removing the emergency situation, both companies are ready to help each other by earmarking their technology or human resources, ”said Štecová.

In addition to the aforementioned cooperation, NAFTA joined the hydrogen initiative last year to maximize the potential of hydrogen produced from renewable sources. “Hydrogen as an energy carrier has the potential to cover the unevenness of electricity generation from renewable sources, while its storage will bring flexibility just for renewable electricity sources. The potential of "renewable" hydrogen is not only in its ability to tackle energy storage, but renewable hydrogen is considered a sustainable climate energy carrier that can be used in various fields - transport, energy, industry and so on. It is for these reasons that renewable hydrogen is expected to become a key instrument for the global decarbonisation of the environment in the coming years, ”Štecová concluded.