AMCU allowed transferring Ukrnaftoburinnia to the management of Ukrnafta

At a meeting on June 29, the Antimonopoly Committee of Ukraine (AMCU) approved the transfer of the assets of PC Ukrnaftoburinnia PrJSC and other companies developing the Sakhalin field (East Europe Petroleum LLC, Sakhalin LLC, and Sirius-1 LLC) to the management of Ukrnafta PJSC. This is reported by Forbes with reference to its own sources.

According to UNB, AMCU decided without involving the company, and its position was not taken into account.

It will be recalled that Ukrnafta and ARMA signed contracts for the management of the assets of Ukrnaftoburinnia.

On May 23, the Cabinet of Ministers transferred the assets of Ukrnaftoburinnia and other companies to the management of Ukrnafta. The assets of the companies were seized and transferred to the balance sheet of ARMA based on criminal proceedings regarding obtaining a license and development of the Sakhalin gas field (Kharkiv region).

The Cabinet of Ministers, on the proposal of ARMA, transferred the companies to the management of Ukrnafta under a simplified procedure, which is used if there is a risk of failure or interruption of natural gas supply. Nevertheless, UNB rejected such statements.

Ukrnaftoburinnia is one of the largest gas production companies in Ukraine. According to ExPro, the company will be among the top 3 private gas production companies in the country in 2022.