The Cabinet of Ministers of Ukraine has agreed the employment contract with new Board Chairman of public joint-stock company Ukrnafta Mark Rollins, Energy and Coal Industry Minister of Ukraine Volodymyr Demchyshyn told reporters in Kyiv on Wednesday.

"We've agreed [on the contract]… he [Rollins] has liabilities to present candidates of new board members within one month. This is foreseen in the contract," he said.

Demchyshyn said that the contract includes payment of dividends by Ukrnafta to the state. Commenting on the salary of Rollins, he said that it is a large, market level salary.

As reported, shareholders in Ukrnafta elected Rollins as head of the company at a general meeting on July 22, although he has not yet started fulfilling its liabilities.

Naftogaz Ukrainy owns a 50% plus one share stake in Ukrnafta, while the group of companies related to the shareholders of PrivatBank holds about 42% of the shares.