SBI transferred to ARMA the seized rights of three gas production companies of Kotvitskyi and Fuchs

According to the materials of the State Bureau of Investigation (SBI), the court seized the corporate rights of three companies that illegally appropriated the subsoil of the Sakhalin oil and gas field. These are Sakhalinske LLC, Sirius-1 LLC, and East Europe Petroleum LLC.

The rights have been transferred to the management of the Agency for Search and Management of Assets (ARMA).

In February 2023, the SBI together with the SSU exposed the illegal activities of former high-ranking officials who received illegal excess profits from gas extraction from state subsoil. We are talking about ex-Deputy from the People's Front Igor Kotvitskyi and under-sanctioned oligarch Pavlo Fuchs.

Under the "patronage" of the former deputy, state structures granted special permits for gas production in flagrant violation of procedures. As a result, raw materials on paper were much cheaper, and the real volumes of production at the state field were also underestimated.

Even though more than UAH 1 billion was spent on the development of this deposit from the state budget, the state lost access to the Sakhalin field. According to the data from geological exploration, gas deposits at this facility amount to at least 15 bcm.