The economic court of ARC initiated proceedings on bankruptcy of the company which looked for hydrocarbon and thermal waters in the territory of the Nikolaev area

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Economic court of ARC, National Joint Stock Company (NJSC) subsidiary "Nadra of Ukraine" opened on December 21, 2007 proceeding of "Krymgeologiya's" (Simferopol) bankruptcy.

As it is reported in the official announcement published in the press on October 18, 2008, claims of creditors and the statement of sanator are accepted within a month from the date of its publication.

"Krymgeologiya" was a part of NAK in 2001. Carries out works on search and investigation atглеводородов, thermal and industrial watersin the south of Ukraine within Odessa,Nikolaev, Zaporozhye areas and ARC.

"Nadra of Ukraine" has 14 subsidiaries, including "Krymgeologiya", "Chernigovnaftogazgeologiya", "Poltavnaftogazgeologiya", "Zakhidukrgeologiya", "Poltava RGP", "Mirgorodnaftogazrozvidk", "Balakliyapromgeofizik", "Gorlivrozvidk", "Tsentrukrgeologiya", "Zhitomirburrozvidk", "Nadraresurs", "Ukrgeolbudproyekt, Agrogeofizika and Ukrgeolremmmash design institute.

The government of Ukraine created the Nadra of Ukraine company in October, 2000 for the purpose of increase of management efficiency by the state enterprises of geological exploration. Now NAK is one of the largest oil and gas extraction enterprises of Ukraine.

The ministry of protection of surrounding environment possesses 100% of stocks NAK.


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