KIEV, July 5 – The Arbitration Institute of the Stockholm Chamber of Commerce has ordered Ukrnafta, the country's largest oil extracting company, to pay $146.9 million to Carpatsky Petroleum Corporation (Delaware, the United States) in reimbursement for its failure to fulfill an agreement on the joint development of the Rudivske-Krasnozavodske gas condensate field (Poltava region).
According to the annual report of the Kuwait Energy Company (the parent company of Carpatsky Petroleum), the court made the ruling in September 2010.
In addition, the Arbitration Institute of the Stockholm Chamber of Commerce declared broken a contract between Ukrnafta and Carpatsky Petroleum.
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