Ukraine's Prosecutor General Reinstates Arrest On Rights Of Ukrnaftoburinnya Company

Ukraine's Prosecutor General Reinstates Arrest on Rights of Ukrnaftoburinnya Company

The Ukrainian Prosecutor General's Office said on Thursday that it has reinstated the arrest of the corporate rights of Ukraine's oil and gas company Ukrnaftoburinnya (UNB), owned by businessman Ihor Kolomoysky

MOSCOW (Pakistan Point News / Sputnik - 04th May, 2023) The Ukrainian Prosecutor General's Office said on Thursday that it has reinstated the arrest of the corporate rights of Ukraine's oil and gas company Uk rnaftoburinnya (UNB), owned by businessman Ihor Kolomoysky.

Earlier on Thursday, the UNB said that the Pechersk District Court in Kiev had canceled the decision to seize the corporate rights of the company.

"At the request of the office of the Prosecutor General, on May 4, 2023, the corporate rights of the Ukrnaftoburinnya company, which ... illegally appropriated the subsoil of the Sakhalin oil and gas field, were re-arrested," the office said on Telegram.

Corporate rights of the UNB were returned to the Ukrainian Asset Recovery and Management Agency, the statement added.

The Sakhalin oil and gas condensate field in the Krasnokutsk district of the Kharkiv region is the largest in Ukraine. Its recoverable gas reserves are 15 billion cubic meters, gas condensate � 1.7 million tonnes, and oil � 1.7 million tonnes. Their cost is estimated at approximately $5.5 billion.