Polish billionaire Jan Kulczyk's company – Kulczyk Oil Investments (KOV), plans to make investments worth $54 million on projects in its Ukrainian concessions in 2013. KOV will only spend $38 million of its own capital, as it controls a 70 percent stake in KUB-Gas, a company directly involved in gas and oil prospecting and mining, reports Parkiet.

KOV plans to spend the money on eight new drill sites as well as make progress with other projects. Additionally, it plans to lay 25 kilometers of a new pipeline. At the same time KOV informed that last year, it produced 500,000 cubic meters of gas and 203 barrels of light oil per day in Ukraine, which is 2.5 times more than in 2011.

Poland A.M.