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Oil and Gas Industry

Prudens has for many years been providing comprehensive legal and economic support of enterprises in the oil and gas area and projects implemented in this field.

For example,
  • we have successfully implemented projects on optimization of accounting of oil and gas enterprises, comprehensive financial and tax audit, improvement of the tariff legislation in the oil and gas field
  • we were tax and legal consultants of Neftegaz Ukrainy National Joint-Stock Company and other key enterprises in the field
  • PRUDENS specialists acted as experts on the Ukraine’s side within a Joint Working Group of EU-Ukraine experts on the issues of developing a plan to reform the management system of Ukraine’s gas transportation system created on the basis of the results of EC-Ukraine summit which took place in September, 2001 in Yalta (EU’s INOGATE project "Reforming Ukraine’s Gas Transportation System").
 
The key task of the project was to support the role of Ukraine as the main transit state for reliable and uninterrupted supply of EU markets with natural gas by means of detailed elaboration and giving reasonable recommendations on how to reform the management system of Ukraine’s gas transportation system, which would ensure appropriate financing for restoration, modernization and maintenance of the gas transmission network 
  • PRUDENS specialists represented Ukraine in creation of a gas transport consortium and in supporting the procedure of preparation and signing of intergovernmental and economic agreements on natural gas deliveries to Ukraine
  • the company was a legal consultant in the development of a business plan of a project on increase of transit capacities of Ukraine’s gas transmission network
  • company’s partners worked on a project on developing a concept on introducing public-private partnership relations into Ukraine’s gas distribution branch, and a concept of reforming the tariff-making system in the gas distribution field. As part of this project, a model was developed which would allow the distribution networks of Ukraine’s gas transportation system (hereinafter referred to as the GTS) to be managed by a private operator which would, on the one part, ensure that the state retains its supervising functions over the strategically important objects of state property and, on the other part, would give a private operator enough guarantees that its property rights and incentives to invest in modernization of the GTS are respected. Drafts of necessary legislative instruments were prepared for practical implementation of the proposed model. In addition, within the framework of the Project on implementation of public and private partnership in the gas distribution field, analyses of Ukraine’s tariff policy were carried out in relation to the services on delivery and transportation of gas by the distribution networks in order to determine if the existing tariff making system corresponds to the goals of attracting long-term private investments into Ukraine’s gas distribution branch. Based on the results of such analyses, draft legislative instruments were prepared which were necessary for creating a mechanism for attraction and return of private investments. 
Our clients include: 
  • NAK Naftogaz Ukrainy (National Joint-Stock Company)
  • DK Ukrtransgaz
  • DK Gaz Ukrainy
  • DK Ukrgazdobycha
  • GAO Chernomorneftegaz (State Joint-Stock Company)
  • ООО Gazeks Ukraina (Gazeks Ukraina LLC)
  • ОАО Ukrtransneft (Ukrtransneft OJSC)