Rosneft’s Subsidiary Enters the Kayum Oil fields
RN-Nyaganneftegaz will begin work on May 6.
The bankruptcy trustee Alexey Skrynnik entered into an agreement with the new oil operator. It became the company JSC RN-Nyaganneftegaz, controlled by PJSC Rosneft. This information is indicated in the materials of the court dispute on the introduction of interim measures against the former operator of Innovative Oil and Gas Technologies LLC (IOGT).
According to the court’s ruling, since April 16, activities have been underway for commission inventory and transfer of property from IOGT to the bankruptcy trustee Kayum Neft, and from the bankruptcy trustee to RN-Nyaganneftegaz. The planned start date for the new oil operator is May 6.
We would like to remind you that earlier interim measures were introduced against IOGT. The company was prohibited from selling hydrocarbons without the approval of documents from the bankruptcy trustee, as well as without the oil buyer complying with the terms of advance payment in the form of transferring funds to the bank account of Kayum Neft.
However, IOGT representatives tried to challenge this court decision. As arguments, the company indicated that the interim measures taken violate the rights of IOGT LLC as an oil production operator, since they make it impossible to sell oil and oil products to Kayum Neft, and the bankruptcy trustee is avoiding accepting the production complex. As a result, the organization incurs losses to maintain the operation of the mining complex at the field.
“Essentially, IOGT LLC insists on the abolition of interim measures in order to sell a certain amount of available oil by May 6 and, thereby, make a profit to at least partially reimburse expenses. This conclusion of the court was confirmed by the applicant’s representative at the court hearing. Meanwhile, the applicant’s given motive is not a basis for canceling interim measures. “IOGT has the right to extract and trade oil, but only with two conditions established by the competent authorities,” the court documents indicate.
Let us add that Kayum Neft JSC was declared bankrupt and bankruptcy proceedings were opened against it in 2022. At that time, the enterprise’s activities were connected with the Rus-Oil holding, controlled by the convicted ex-head of Yugra Bank Alexei Khotin.
