ARMA retains control over Sakhalin field
8 August 2024 17:16
The High Anti-Corruption Court has dismissed a petition filed by the former owners of the Sakhalin field to cancel the seizure of their property and transfer property rights to the Asset Recovery and Management Agency (ARMA). This was announced by the Head of ARMA , Olena Duma.
“Today, the High Anti-Corruption Court (HACC) considered a motion filed by the owners of the Sakhalin field to cancel the seizure of their property and transfer their property rights to ARMA. The HACC has closed the proceedings to consider the petition to lift the seizure of the Sakhalin field! The applicant has not proved the circumstances regarding the jurisdiction of the HACC to consider this petition,”
– the Duma wrote.
Thus, the Sakhalin field will remain under the control of the ARMA.
Sakhalin field
The Sakhalin field is one of the largest hydrocarbon sites in Ukraine, located in Kharkiv region. It has proven reserves of about 15 billion cubic metres of gas, 1.7 million tonnes of gas condensate and about the same amount of oil.
The field was seized by ARMA together with Ukrnaftoburinnya as part of an investigation into corruption schemes surrounding its exploitation and the nationalisation of the company. ARMA is currently managing the asset to ensure its safety and further use for the benefit of the state.
In December 2023, Ukrnaftoburinnya stopped gas production at the Sakhalin gas field due to a court decision to cancel the licence initiated by the State Service of Geology and Subsoil. In August 2024, the same court found that there were no grounds for the cancellation and cancelled its decision. But this suspension has already cost Ukraine UAH 3 billion.
