The Asset Recovery and Management Agency has achieved another major financial result for the state: UAH 1,073,576,575.00 has already been transferred to the State Budget of Ukraine from the management of assets related to the Sakhalin gas field.
This refers to the seized corporate rights in the authorized capital of Private Joint Stock Company “MC “Ukrnaftoburinnya”, which were transferred to the management of PJSC “UKRNAFTA” under an agreement concluded by ARMA. The terms of the agreement provide for the transfer of 90% of the profit to the state budget, which ensured such large-scale revenues.
It is worth recalling that in July 2024, ARMA transferred a tranche of UAH 747,725,152.25 to the State Budget of Ukraine.
This revenue was made possible due to the transfer of the remaining 7 shares in PJSC Ukrnafta to ARMA’s management, in accordance with an additional order from the Government. This step enabled PJSC Ukrnafta to promptly convene a shareholders’ meeting and adopt the necessary decisions to redistribute dividends and transfer them to the state budget.
“We demonstrate that a seized asset can work for the state today. “The Sakhalin field is a clear example of how effective management, and a well-founded legal position can deliver tangible results for the economy in times of war.” And this remains well within our institutional capacity. emphasized Olena Duma, Head of ARMA.
“In August 2024, Ukrnaftoburinnya resumed operations at the Sakhalin field in the Kharkiv region. The company’s net profit for 2024 stands at UAH 1.19 billion, of which UAH 1.074 billion — or 90% — has already been transferred to the State Budget of Ukraine. The company continues to produce natural gas, which remains critically important for the country,” said Yuriy Tkachuk, Acting CEO of PJSC Ukrnafta.
ARMA has taken steps to ensure sustainable revenues and the continuation of gas production:
submitted an appeal to the Prosecutor General's Office in December 2023 to protect national interests;
addressed the National Security and Defense Council of Ukraine to resolve the issue of gas production at the Sakhalin field;
filed a cassation appeal with the Supreme Court against the ruling of the Sixth Administrative Court of Appeal, which had suspended gas production;
initiated and conducted working meetings with the Head of the Verkhovna Rada Committee on Environmental Policy and Natural Resources, as well as representatives of the Ministry of Environmental Protection and Natural Resources, the State Service of Geology and Subsoil of Ukraine, and PrJSC MC Ukrnaftoburinnya.
ARMA acted as a third party in the court case regarding the renewal of the gas production license for the Sakhalin field.
As a result of these coordinated efforts, gas production at the Sakhalin field was successfully resumed.
These funds represent a tangible contribution to Ukraine’s defense, economy, and recovery. And we continue our work — efficiently, systematically, and in the interests of the state.
