Court returns 30% stake in Sakhalynske deposit to Nadra Ukrainy

18:41, 13.11.2017 1 min read

The Kyiv Economic Court has terminated a contract for the sale and purchase of a 30% stake in Sakhalynske gas condensate field (Kharkiv region) between Nadra Ukrainy and Golden Derrick Ltd., recognizing the state company's right to this share in the company, the press service of the Prosecutor General's Office of Ukraine has said.

The contract of 2007 was terminated due to the non-payment by Golden Derrick for the purchase.

As reported, with reference to the prosecutor's office, the former management of Nadra Ukrainy sold its shares (24%, 30% and 35%) on the joint venture on Sakhalynske deposit to Golden Derrick for a little over UAH 20 million.

The Higher Economic Court of Ukraine on March 22, 2017 confirmed the right of Nadra Ukrainy to a 24% stake in the joint venture on Sakhalynske deposit.