Court returns 35% share in gas extraction at Sakhalynske field section to Nadra Ukrainy, says ministry

12:36, 15.01.2015 1 min read

The business court of appeals in Kyiv on January 14, 2014 declared the counterclaim filed by Golden Derrik as inadmissible, and returned a 35% share of one of the three sections of the Sakhalynske large gas field to national joint-stock company Nadra Ukrainy, the Ecology and Natural Resources Ministry has reported.

"Nadra Ukrainy had three court cases on the return of state assets on the field [separate cases for three sections]. The hearings on the two cases were won in December 2014 and the third case (the last) – now," reads the report.

According to the ministry, in 2000 and 2003 Nadra Ukrainy signed agreements on the joint operation of the field with three companies, and in 2012-2013 the company sold its shares in three sections to Golden Derrik for slightly over UAH 20 million. The buyer did not pay, which led to the agreement being cancelled and the return of the assets to Nadra Ukrainy, the minister said.

In the first court case Nadra Ukrainy received a 24% share and in the second – 30%.