Due to the deprivation of Naftogaz of permits to develop oil and gas areas of the state will not receive 150 billion UAH of rent payments. The company will lose about UAH 800 million investment. This is stated in the message of Naftogaz of Ukraine.

“The decision of the Appeal administrative court of Kyiv, depriving Naftogaz of Ukraine the right to develop Budischanskaya-Cotovscoe, Obolon and Pisarevsky gas-bearing areas, will lead to significant losses of the state budget and local budgets in Poltava region in the coming years”, – stated in the message.

The company believes that the deprivation of rights Naftogaz development of these areas would actually mean disruption of the implementation of the government program 20/20.

According to Naftogaz for the period of validity of special permits for specified licensed areas was planned to produce 69.6 billion cubic meters of gas and 10.7 million tons of crude oil and gas condensate.

“Only rental payments to the state budget had to be more than 148 billion. More than 7.4 billion was to go to local budgets in Poltava region” – said in Naftogaz.

We will remind, Appeal administrative court of Kyiv on 14 November upheld the decision of the court of first instance, according to which Naftogaz was deprived of the right to development Budischanskaya-Cotovscoe, Obolon and Pisarevsky gas-bearing areas.

The formal reason for the decision about the cancellation of three permits Naftogaz is the failure of the programme of work in the fields.

In the NAC is associated with delayed approval by the Cabinet of the financial plans of the company, due to which there was a failure in the financing of field development.

Budischanskaya-Kotowska, Obolon and Pisarevskaya is the only licensed area for the extraction of gas available to Naftogaz.

For 5 years the preparation of these territories to mining, Naftogaz has invested more than UAH 600 million.

Minus 150 billion in Naftogaz estimated the loss of production licenses, 27.11.2017

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