Pinchuk’s company loses oil and gas field

Court has invalidated a special permit for subsoil use of Intech Geo, which is owned by Ukrainian businessman Victor Pinchuk.

This is stated by the press centre of the Ukrainian General Prosecutor’s office.

"The General Prosecutor's Office managed to protect the interests of the state during the review of the prosecutor's action against the Ministry of Environmental Protection of the Ukraine and " Intech Geo on invalidation of the special permit for subsoil use by the Supreme Court of the Ukraine. According to this permission, Intech Geo received the right to use subsoil of the South Orelsky area that is located the Dnipropetrovsk region, including the pilot development with following oil and gas production, for 20 years,"- the message said.