The government allowed Naftogaz to acquire 100% of the capital of Nadra Yuzivska
Today, the Cabinet of Ministers of Ukraine by its resolution provided an opportunity for Naftogaz to acquire 100% of the authorized capital of Nadra Yuzivska LLC, which has the right for exploration and production of hydrocarbons at the Yuzivska area. This is reported by the Association of gas-producing companies of Ukraine.
The company said that after all official procedures are completed, work on the area will commence as soon as possible. In the future, it is planned to attract international investors to the development of the area.
Recall that the Yuzivska area has an acreage of 7,886 thousand sq.km., located on the territory of Donetsk and Kharkiv regions.
According to Nadra of Ukraine, the area's potential exceeds 3 trcm of hydrocarbons. In 2013, Shell, in cooperation with Nadra Yuzivska, signed a production sharing agreement for hydrocarbons to be produced within the Yuzivska area. In 2015, Shell refused to participate in the project, after which all the operational rights for the area were transferred to Nadra Yuzivska.