Rotation of personnel and strategy of judicial decisions: oil and gas week

The past week was marked by appointments, elections and dismissal of managers in private oil and gas structures and the public. The most notable personnel changes Gosgeonedr. By the order of Cabinet of Ministers No. 321-p dated may 18, 2017. Nicholas Boyarkin was dismissed. It was also reported that the acting head of service appointed Oleg Kirilyuk, formerly head of the territorial administration of the Gosgorpromnadzor in the Zhytomyr region. The next day, may 19, the District administrative court of Kiev stopped the effect of these orders of the Cabinet.

Cub Energy Inc., which owns the producing assets in the West and the East of Ukraine, reported about the annual General meeting of shareholders as auditor for 2017 was assigned to “Davidson & Company” and voted by the Board of Directors. In addition to Michael Afendikov, which will continue in the post of Chairman of the Board, the Board of Directors included Frank Mermoud,Tim Marchant, John Booth.

Meanwhile, in the field of upstream group of companies Burisma reported on the successful application of the technology of hydraulic fracturing on three private fields — Stepkowski, Makeyevka and Kapanowski areas. All such operations conducted since the beginning of the five years, including two hydraulic fracturing at the fields of other mining companies. In addition, a member of Burisma, GK OOO “Esko-Pivnich” reports scheduled for may 22, the auction for the sale of natural gas in the amount of 7 million cubic meters on the Ukrainian energy exchange with a starting price of 6800 UAH per thousand cubic meters.

An important event for the public sector neftegazovogo market was the message of “Naftogaz” about the repayment of the EBRD loan in the amount of $ 300 million. The next loan will also be used for gas purchases from European traders in the new heating season. Besides, “Naftogaz” announced the beginning of acceptance of applications for the position of independent member of the Supervisory Board of the company. The competition is scheduled for June 27.

“Naftogaz” re looking for a company that can provide investment banking services for the evaluation and possible implementation of its assets in Egypt. For the previously announced tender was announced, only one company in this connection “to Naftogaz” had to extend the deadline. Applications will be accepted until June 19.

Service Gosgeonedr decided not to suspend the permits of “Chernomorneftegaz”. The availability of valid permits for use of subsoil can be used as evidence in arbitration in a dispute of Ukraine with Russia about the violation of the UN Convention on the law of the sea 1982

With regard to judicial processes against Russia, last week, the Executive office has opened a case of collecting with “Gazprom” 172 bln. fines and penalties imposed by the Antimonopoly Committee of Ukraine. The company’s assets in Ukraine does not allow to speak about maturity of at least 1% of the specified amount. However, this decision will put an end to the question of the legality of the use of a monopoly position.

Inna Kucherenko, expert neftegazovogo market