09:09 20.03.2021

Ukraine imposes most severe sanctions against 19 subsoil companies from Golden Derrick case

2 min read
Ukraine imposes most severe sanctions against 19 subsoil companies from Golden Derrick case

The National Security and Defense Council (NSDC) of Ukraine is imposing sanctions against 19 companies that are being held in the case of Golden Derrick, which is associated with former Energy Minister Eduard Stavytsky (later renamed as East Europe Petroleum) and the seizure of their permits for subsoil use since 2020, the Prosecutor General's Office (PGO) has been unsuccessfully seeking in the courts.

"The maximum type of sanctions that can be applied by our country, imposed against these 19 companies by the National Security and Defense Council of our country," NSDC Secretary Oleksiy Danilov said at a briefing on Friday after the meeting.

We are talking about Novo-Dykanska area (Geo Connect LLC), Popasniansko-Samarska (Adgein Macro LLC), Pivnichno-Pereschepynska (Global Geo Invest LLC), Vilshanska (Trans Set Geo LLC), Pivdenno-Svystunkovska (Eco Gas Alliance LLC), Pivdenno-Zinkivska (Epival Energy LLC), Birkovsko-Yukhnovska (Geo Post LLC), Flerovsko-Yuvileina (Yunolit Oil LLC), Runovschynska (Profi Naft LLC), Boyarsko-Chapaivska (Geo Target LLC), Druzhyninska (Nadra Pride LLC), Hulakivska (Best Geo Tech LLC), Zuivska (Geo Stance LLC), Butovsko-Myrhorodska (Nadra West Group LLC), Liutensko-Budyschanska (Geo Force Oil LLC), Pivnichno-Fedorivska (Best Oil Company LLC), Mayorovska (Nadraprostir LLC), Davydivsko-Leliukhovska (Geo Vertikal LLC) and Kliushnykivska (Info Geo Trend LLC).

Golden Derrick received these permits for exploration and production of oil and gas in 2012-2013 out of competition, since a third of its capital belonged to the state-owned NJSC Nadra Ukrainy.

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