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JKX Oil & Gas Plc launches arbitration against Ukraine

17:13 16/02/2015

MOSCOW, February 16 (RAPSI) – UK oil and gas exploration and production company JKX Oil & Gas Plc said it has launched arbitration proceedings against Ukraine under the Energy Charter Treaty, bilateral investment treaties.

"In these proceedings, JKX is seeking compensation for the losses it has suffered from Ukraine's treaty violations, including Ukraine's failure to treat JKX's investments in a "fair and equitable" manner and failing to comply with commitments made by Ukraine in respect of JKX's investments," according to the statement of the company.

“JKX is seeking repayment of more than $180 million in rental fees that its Ukrainian subsidiary has paid on production of oil and gas in Ukraine since 2011,” the statement reads.

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JKX Oil & Gas Plc launches arbitration against Ukraine

17:13 16/02/2015 UK oil and gas exploration and production company JKX Oil & Gas Plc said it has launched arbitration proceedings against Ukraine under the Energy Charter Treaty, bilateral investment treaties.
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