KYIV, Dec 18 - The Cabinet of Ministers approved the transfer of 90% stake in Nadra Yuzivska LLC in the production sharing agreement (PSA) on Yuzivska shale gas deposit (Kharkiv and Donetsk regions) to Yuzgaz B.V. (the Netherlands) with the investor and operator of the project represented by the Slovak company Nafta.

According to an explanatory note to the draft government resolution, Nafta provided a guarantee of 100% security for Yuzgaz obligations, which will cover $200 million in exploration financing (the drilling of 15 wells).