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The court has restored NAK ‘Nadra Ukrainy’s’ 20 per cent stake in the joint venture at the Sakhalin field

The court has restored NAK ‘Nadra Ukrainy’s’ 20 per cent stake in the joint venture at the Sakhalin field

23 June 2026, 18:45

The court has restored NAK ‘Nadra Ukrainy’s’ 20 per cent stake in the joint venture at the Sakhalin field — NAC ‘Nadra Ukrainy’

NAC ‘Nadra Ukraine’ has stated that the decision paves the way for the company to resume its full participation in the development of the Sakhalin field.

This is stated in the court’s ruling, according to NAK ‘Nadra Ukrainy’.

The case concerns Joint Activity Agreement No. 122 dated 26 December 2003. The court ordered ‘Way Development’ to surrender the share, ownership of which had been established as belonging to NAK ‘Nadra Ukrainy’ by a ruling of the Kyiv Commercial Court dated 9 September 2022.

The court also ordered ‘Way Development’ to pay 63,600 UAH in court fees to NAK ‘Nadra Ukrainy’. The remainder of the claim was dismissed. NAC “Nadra Ukraine” stated that the ruling paves the way for the company to resume full participation in the development of the Sakhalin field. However, as this is a ruling by the court of first instance, it may still be appealed.

“For many years, the Company has consistently defended its rights, and this ruling confirms the validity of our position,” said Viktor Novikov, Chairman of the Board of NAK “Nadra Ukrainy”.

According to him, should the decision be appealed, the company will continue to defend its rights in higher courts. “We are committed to the effective implementation of the project at the Sakhalin field, which is of vital importance for ensuring the country’s energy security,” added Novikov.

In April 2013, NAC “Nadra Ukraine” entered into a contract with Golden Derrick LLC, now known as East Europe Petroleum LLC, for the sale and purchase of a stake in the joint venture at the Sakhalin field. However, the buyer failed to fulfil its obligation to pay for the acquired stake.

Following this, NAK “Nadra Ukraine” took the matter to court to protect its rights. The company notes that the legal proceedings lasted for years but did not result in the actual restoration of its full participation in the joint venture.

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