11th Feb 2021 17:08
Enwell Energy PLC - oil & gas exploration and production company - Svystunivsko-Chervonolutskyi exploration licence in Ukraine remains valid as Supreme Court in Kyiv dismisses appeal by NJSC Ukrnafta.
NJSC Ukrnafta brought legal proceedings against Arkona in July. Ukrnafta claimed that "irregular procedures" were followed in the grant of the Svystunivsko-Chervonolutskyi exploration licence to Arkona in 2017, and the First Instance Court in Ukraine ruled in favour of Ukrnafta. However, Arkona - which disputes the claims - filed an appeal in early August, which it had won in November.
Due to the appeal being dismissed, all legal proceedings against Arkona have been exhausted.
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By Dayo Laniyan; [email protected]
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