OREANDA-NEWS. December 4, 2007. Major changes are about to have place in the oil and gas market of Ukraine. The democratic coalition formed by factions of Yulia Timoshenko Bloc and Nasha Ukraina -- Narodnaya Samooborona bloc assumed an obligation to revise all the contracts signed by Nadra of Ukraine NJSC related to any joint activities, UFC-Capital informs. If it is established that the companies do not fulfill their investment commitments set by these contracts, the political forces promise to do their best to cancel such contracts. BYuT and NUNS are also determined to approve a procedure for development of oil and gas fields by private and state companies, which were explored for the money from the state budget, and to define a mechanism for adequate losses compensation to the budget.

Apparently, the sponsorship of both blocs commences bearing first benefits to Igor Kolomoiskiy, a co-owner of PrivatBank. In summer-early autumn, Ukrnafta OJSC, controlled by Privat group, was gradually pushed out from the development of the Ukraine's largest oil and gas field – Sakhalin (which reserves are estimated at 15 billion m3 of natural gas, 2 million tonnes of gas condensate and 2 million of oil). As a result, Nadra of Ukraine NJSC transferred the license for the field development to Geosouz LLC, owned by prominent member of the Party of Regions – Nikolai Zlochevskiy. It is interesting that the license was transferred free of charge, despite the fact that Ukrnafta was ready to pay for it approximately UAH 300 mn. However, this proposal was turned down. Generally speaking, Mr Zlochevskiy applied significant efforts to re-enforce the positions on his own company at Sakhalin field. In due time, when Mr Zlochevskiy was head of the State Committee of Natural Resources, he did his best to deprive Poltavaneftgasgeologia (a subsidiary of Nadra of Ukraine) of the license for Sakhalin field development. Immediately after that, this license was transferred to Ukrnefteburenie, established a month before. The founders of Ukrneftburenie were Infox LLC and Brilliant Spirit Ukraine OJSC, close to Mr Zlochevskiy and his partner -- Nikolai Lisin. It should be said that the canceling of the license of Poltavaneftgasgeologia de-facto left without job the operators of Sakhalin field, which signed agreements on joint activities with the company. Among the "lucky" ones were Sakhalinskoe LLC, Sirius-1 LLC, Devon CJSC, Investor-neftegas LLC and Ukrnafta.