Ukrnaftoburinnya gets new manager after coming under state management

On July 11, the state company Ukrnafta appointed a new chairman of the board of Ukrnaftoburinnya. Instead of Mykhailo Bakunenko, the company is now headed by Oleh Malchyk, who previously managed the "production and services" department at Ukrnafta, according to data from Opendatabot.

On July 10, the heads of three other companies that were engaged in production at the Sakhalinske oil and gas condensate field also changed and, by decision of the Cabinet of Ministers, were transferred to the management of Ukrnafta.

Hennadiy Chekhovych became the head of East Europe Petroleum LLC (in place of Vitaliy Lupeto), Ihor Ruban became the head of Sakhalinske LLC (in place of Valentyna Khachaturova), Oleh Nezyamov became the head of Sirius-1 LLC (in place of Anton Lisnychyi).

All these companies were arrested as part of criminal proceedings.

On April 5, 2023, the seizure of the corporate rights were reported of Sakhalinske LLC (beneficiaries are former MPs Ihor Kotvitskyi and Vitaly Danilov), Sirius-1 LLC (beneficiary is the former top manager of Ukrtatnafta Pavlo Ovcharenko), East Europe Petroleum LLC (former Golden Derrick, probable beneficiary – Pavel Fuks).

On April 7, they were joined by PJSC VK Ukrnaftoburinnya, affiliated with Ihor Kolomoisky, Vitaliy Khomutynnik and Pavel Fuks.

The investigation is verifying the version about the conspiracy of several gas companies in the period 2000-2023, as a result of which the state de facto lost control over the Sakhalinske field, having previously spent more than UAH 1 billion ($27 million) on its development. Its deposits are estimated to be at least 15 billion cubic meters of gas.

On May 23, 2023, the Cabinet of Ministers instructed to transfer the seized corporate rights to the management of Ukrnafta.

On June 14, Ukrnafta signed contracts with the Asset Recovery and Management Agency on the management of the corporate rights of these companies.