Ukrnafta, a Ukrainian oil and gas company, has submitted a letter to the Ministry of Economy requesting access to the corporate rights of four enterprises previously owned by Igor Kolomoisky and his partners, Pavel Fuks and Vitaliy Khomutynnik. The four enterprises in question are Ukrnefteburenie, Sakhalinskoye LLC, Sirius-1 LLC, and East Europe Petroleum LLC.
According to the letter submitted by Ukrnafta, Ukrnefteburenie had been developing the Sakhalin oil and gas condensate field but was primarily focused on gas production. However, the field is said to have more oil reserves than gas, which Ukrnafta plans to leverage. Additionally, Ukrnafta alleges that the scheme for collecting and transporting products produced at the field remained integrated into the production scheme of Ukrnafta, indicating that they have been closely involved with the development of these assets for some time.
Seizure of the Assets
In early April, the shares of the four companies in question were seized and transferred to the management of the Asset Tracing and Management Agency (ARMA), which is responsible for managing assets that have been confiscated by the state. The decision to seize the assets was made as a part of an ongoing investigation into the activities of Kolomoisky and his associates. The investigation has been focused on uncovering any possible instances of embezzlement or fraud that may have been committed by the former owners of these assets.
Ownership of Valuable Assets
Recently, investigative journalists from the “Schemes” program discovered that Igor Kolomoisky’s sister, Larisa Chertok, owns a significant number of valuable assets in France. This includes two apartments, four apartments, two basements, and two parking spaces located opposite the Eiffel Tower in Paris. Additionally, Chertok is said to own a French castle from the 15th century, as well as lands located near Lake Geneva.
Implications for Ukrnafta
For Ukrnafta, gaining control of these assets would represent a significant expansion of their operations. The acquisition of these assets could potentially increase their oil reserves, as well as diversify their portfolio to include a greater range of products. Additionally, gaining control of these assets could give Ukrnafta greater leverage in the oil and gas market, potentially increasing its market share and allowing them to better compete with other major players in the industry.
Potential Challenges
However, gaining control of these assets is unlikely to be a straightforward process. The fact that the assets were seized and transferred to ARMA indicates that they are currently considered to be under state control. This means that Ukrnafta would likely need to navigate a complex legal process to gain control of these assets, potentially involving negotiations with the Ukrainian government and ARMA.
Furthermore, given the ongoing investigation into the activities of Kolomoisky and his associates, it is possible that additional legal challenges could arise. Any evidence of wrongdoing on the part of the former owners of these assets could potentially complicate the process of transferring ownership to Ukrnafta.
Ukrnafta’s request for access to the arrested assets of Kolomoisky and his associates represents a bold move that could have significant implications for the company and the Ukrainian oil and gas industry as a whole. However, given the complex legal and political landscape in Ukraine, it remains to be seen whether Ukrnafta will be successful in its efforts to gain control of these assets. Nevertheless, the ongoing investigation into the activities of Kolomoisky and his associates suggests that there may be significant value to be gained from these assets, making them a potentially lucrative
