Court hearing under the UGV lawsuit on PSA competition was scheduled for February 11

The court appointed a preparatory meeting for consideration of the claim of Ukrgasvydobuvannya (UGV) JSC to the Cabinet of Ministers of Ukraine, the Ministry of Energy and the Environment of Ukraine and the Interdepartmental Commission for the Organization of Conclusion and Implementation of Product Sharing Agreements (PSAs) on February 11. In its lawsuit, the UGV requests to recognize illegal and cancel Resolution of the Cabinet of Ministers No. 507- p dated July 5, 2019,on the winners of the competition on the conclusion of hydrocarbon production sharing agreements in part of determination Ukrainian Energy LLC the winner of the PSA competition for Varvynska area.

This follows from the decision of the Kyiv District Administrative Court dated December 16, 2019, which opened proceedings in case No. 640/24854/19. The lawsuit stated that the relevant Resolution of the Cabinet of Ministers and the conclusions and protocols of the Interdepartmental Commission for the Organization of Conclusion and Implementation of Product Sharing Agreements regarding the determination of Ukrainian Energy LLC the winner are illegal.

UGV requests the court to oblige the Cabinet, the Ministry of Energy and Interdepartmental Commission for the Organization of Conclusion and Implementation of Product Sharing Agreements to reconsider the Commission’s proposals on winner determination in the competition for Varvynska area.

Currently, a similar trial under the lawsuit of Ukrnaftoburinnya (UNB) to the Cabinet of Ministers of Ukraine, the Ministry of Energy and the Environment of Ukraine and the Interdepartmental Commission for the Organization of Conclusion and Implementation of Product Sharing Agreements is ongoing. The lawsuit requires cancellation of the determination of Oil and Gas Overseas Trading B.V. and Naftogasekspluatatsia LLC the winners in the tender for the PSA for Zinkivska area.

The Kyiv District Administrative Court on September 26, 2019, granted the claim of UNB; however the Sixth Administrative Court of Appeal on December 9, 2019, dismissed this decision under the appeal of Cabinet of Ministers of Ukraine, the Ministry of Energy and the Environment of Ukraine, Naftogasekspluatatsia and of Oil and Gas Overseas Trading B.V.

On December 26, 2019, the Supreme Court opened proceedings under a cassation appeal of UNB but has not yet made a ruling. We remind that in July 2019, the Cabinet of Ministers has identified the winners in the competitions for the conclusion of the PSAs for 9 areas. In particular, the winner of the competition for the conclusion of PSAs for the Varvynska area was Ukrainian Energy LLC (USA, Texas), established to enter the oil and gas sector of Ukraine (in particular, to participate in the PSA competition for the development of the Varvynska area). In 2018, US companies Aspect Holdings LLC and Sigma Bleyzer Investment Group LLC created the International Fund for Ukrainian Energy (IFUEL) to invest in Ukraine’s energy sector.

The UNB is owned by the structures of Igor Kolomoisky and Vitaliy Khomutynnyk. The beneficiary of Naftogasekspluatatsia and Oil and Gas Overseas Trading B.V. is RinatAkhmetov.

14:30 / 24 January, 2020

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