Naftogaz becomes owner of Nadra Yuzivska – Opimakh

NJSC Naftogaz Ukrainy has become a full-fledged owner of, Nadra Yuzivska LLC, which owns a special permit for the Yuzivska area until 2063, Head of the State Service of Geology and Subsoil of Ukraine Roman Opimakh said.

"The unblocking of implementation of the agreement on the distribution of hydrocarbons in the Yuzivska area has begun, which was in the status of the most 'dormant' license of the decade, with an area of ​​more than 7,500 square kilometers. Starting today, the Naftogaz group receives the right to enter the project as a full-fledged owner of Nadra Yuzivska LLC, which is the investor party under the agreement," he wrote on his Facebook page.

Opimakh expressed confidence that the unblocking and restarting of this Production Sharing Agreement will benefit the state.

The Cabinet of Ministers of Ukraine, on December 16, approved the acquisition of 100% of shares in Nadra Yuzivska LLC by NJSC Naftogaz Ukrainy from NJSC Nadra Ukrainy and its subsidiary Ukrnaukageocenter.

The transfer of rights to a 100% stake in Nadra Yuzivska to Naftogaz will occur after the signing of the acceptance certificate, but only after obtaining the necessary permission from the Antimonopoly Committee of Ukraine (AMCU), which has already begun considering the case on the appropriate concentration.

Naftogaz will have to make payments to Nadra Ukrainy and Ukrnaukageocenter within 15 days from the date of transfer of rights to shares in Nadra Yuzivska.

Source: www.en.interfax.com.ua