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News // Incidental

Ukraine agency 'illegally blocks licence extension': Naftogaz

10 July 2017 , 17:31William PowelNeftegaz.RU288

Naftogaz Ukrainy subsidiary Ukrnafta is being illegally denied the right to develop gas fields in Ukraine, the state-owned parent company said July 10, 2017.

 

A court has decided that the state geology and subsoil committee was wrong to withhold permission to extend licences on the grounds of tax debt.

As a result, some 50,000 inhabitants in 8 villages are without gas supply, it said.

 

Naftogaz considers it necessary to extend the validity of the special permits for Ukrnafta to use the subsoil and it supports the efforts of the company to regularise the situation, it said.

It demands that the committee fulfil the court order and extend the licences, it said, and calls on the relevant state agencies to resolve the matter as soon as possible.

 

The termination of 9 licences this year means that Ukrnafta could lose almost a 5th of its oil and condensate output and a 6th of its gas output.

Next year, 27 licences expire, accounting for half of the companys oil and gas condensate production.

 

Naftogaz owns 50% and 1 share of Ukrnafta; the other biggest shareholder is Privat, owned by the businessman Igor Kolomoisky.

 

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