The Asset Recovery and Management Agency (ARMA) has called on the National Security and Defence Council and the Verkhovna Rada to resolve the problem with the Sakhalinske field in Kharkiv Region.
According to the head of ARMA, Olena Duma, last June Ukrnafta signed an agreement to manage the corporate rights of Ukrnaftoburinnya. The latter held a special permit for subsoil use and hydrocarbon production at the Sakhalinske field in Kharkiv Region.
Subsequently, the Sixth Administrative Court of Appeal cancelled this special permit, and the Supreme Court, in its ruling of 12 December 2023, also dismissed the cassation appeal filed by ARMA and rejected the cassation appeal by Ukrnaftoburinnya.
"According to the management agreement, the state budget of Ukraine represented by ARMA should receive 90% of the company's net profit. Due to the cancellation of the special permit and, accordingly, the suspension of production from December 2023, the state will lose almost 500 million cu. m. of natural gas and about UAH 10 billion in taxes and dividends annually," Duma said.
In addition, the suspension of production at the Sakhalinske field could leave residents of Kharkiv Region without gas supply in the event of a full-scale war, the ARMA chief added.
"ARMA calls on the National Security and Defence Council and MPs to consider a legislative solution to the production issue. Namely, to allow the issuance of a special permit for work at the Sakhalinskr field without an auction on the basis of a management agreement concluded with the National Agency. This decisive and logical step will safeguard the interests of the state and ensure that the state budget receives about UAH 10 billion annually. These funds are more important than ever for maintaining Ukraine's defence capability," Duma explained.