15 May 2023
Cadogan Energy
Solutions plc (the "Company")
Consolidated
report on payments to governments
Cadogan Energy Solutions plc presents below its consolidated
report on payments to governments for the year ended 31 December 2022, for activities related to
exploration, development and extraction of oil and gas
resources.
The Company has prepared the following consolidated report in
accordance with DTR 4.3A of the Financial Conduct Authority
Disclosure and Transparency Rules and in compliance with the
Reports on Payments to Governments Regulations 2014 (SI 2014/3209),
as amended by the Reports on Payments to Governments (Amendment)
Regulations 2015 (SI 2015/1928).
Basis of preparation
The Company discloses below payments made to governments of the
Group's subsidiaries involved in extractive activities. The term
'government' includes a department, agency or entity that is
controlled by the government authority.
Reporting currency
Where payments have been made in currencies other than the
reporting currency (USD), the exchange rate existing at the time
the payment is made has been
used.
Payment types disclosed at project
level
"Project" is defined as "operational activities governed by a
single contract, licence, lease, concession or similar legal
agreements and form the basis for payment liabilities with a
government". Where multiple such agreements are substantially
interconnected, this was considered a project for the purpose of
this report.
The payments are presented on a cash basis, net of any interest
and penalties on late tax payments or on underpaid tax.
There were no payments in kind made to a Government during the
year.
The following payment types are disclosed for legal entities
involved in extractive activities for the year ended 31 December 2022:
Production taxes
Payments to governments in relation to revenue or production
generated under hydrocarbon (oil) production license
agreements.
Excluded amounts
Taxes levied on consumption such as value added taxes, personal
income taxes, sales taxes, property and environmental taxes have
not been included in this report.
Payments summary
|
|
| Payments
to governments made during the year ended 31 December 2022: |
|
Production taxes |
Total |
|
Governments |
$'000 |
$'000 |
| Ukraine |
|
|
| State treasury: State
budget |
3
741 |
3
741 |
| Total
Ukraine |
3
741 |
3
741 |
| Grand
Total |
3
741 |
3
741 |
|
|
|
| Payments
to governments by project type made during the year ended 31
December 2022: |
|
Production taxes |
Total |
|
$'000 |
$'000 |
| Ukraine |
|
|
| Blazhivske license
area |
3
741 |
3
741 |
| Total
Ukraine |
3
741 |
3 741 |
| Grand
Total |
3
741 |
3 741 |
ENDS
About
Cadogan is an independent, energy company, which operates
an exploration and production license in Western Ukraine, conducts gas trading
operations, and provides services to E&P companies. The aim of
the Company is to be a diversified energy group making investments
offering energy solutions and alternative services with a lower
environmental impact.
For further information, please
contact:
Cadogan Energy Solutions plc
Fady Khallouf
Chief Executive
Officer
f.khallouf@cadogan-es.com
Ben Harber
Company Secretary
+44 0207 264 4366