Ruling Marks an Important Milestone in Protecting the Company’s Legal and Property Rights
The Commercial Court of Kyiv has reinstated PrJSC «NJSC «Nadra Ukrainy» as a participant in the Joint Activity Agreement (JAA) at the Sakhalinske field. The ruling paves the way for the Company’s return to one of Ukraine’s largest hydrocarbon production projects.

“For many years, the Company has consistently defended its rights, and this ruling confirms the validity of our legal position. At this stage, the decision has been issued by the court of first instance. Should it be appealed, we will continue to protect the Company’s rights and legitimate interests before the higher courts, pursue the case through to its final resolution, and secure the full restoration of our ownership interest, – said Mr. Viktor Novikov, Chairman of the Board of NJSC «Nadra Ukrainy», – We remain committed to the efficient development of the Sakhalinske field, a project of strategic importance for strengthening Ukraine’s energy resilience.”

In April 2013, NJSC «Nadra Ukrainy» entered into an agreement with Golden Derrick LLC (now East Europe Petroleum LLC) for the sale of its interest in the JAA covering the Sakhalinske field. However, the purchaser Golden Derrick LLC failed to fulfil its contractual payment obligations. As a result, the Company initiated legal proceedings to protect its rights. Although the litigation continued for several years, it did not result in the effective restoration of the Company’s participation in the joint activity, despite the fact that NJSC «Nadra Ukrainy» is a wholly state-owned company.
In 2024, the Company became aware of changes in the composition of the parties to the Joint Activity Agreement. Specifically, East Europe Petroleum LLC transferred its interest under agreement to Way Development LLC. According to the Company’s legal position, that interest rightfully belongs to NJSC “Nadra Ukrainy”. Consequently, the Company filed a claim seeking the recovery of its interest from unlawful possession.
Following consideration of the case, the Commercial Court of Kyiv partially upheld the Company’s claims and ordered the transfer to PrJSC «NJSC «Nadra Ukrainy» of a 20% ownership interest in the jointly owned property governed by the Joint Activity Agreement for the Sakhalinske field.
The Court’s decision of 15 June 2026, restores NJSC «Nadra Ukrainy» as a participant in the Joint Activity Agreement and clears the way for the Company to resume its full participation in the development of the field.
Previously, representatives of NJSC «Nadra Ukrainy» participated in a roundtable discussion on critical minerals and energy.