Ihor Mazepa and his partners withdraw from gas production in Lviv region

At the end of January 2025, the founder of the Concorde Capital Investment Group, Ihor Mazepa, and his partners Ivan Oliynyk and Oleh Vedmid withdrew from the hydrocarbon production project at the Mainytske area in the Lviv region.
This is reported by Nadra.Info with reference to the decision of the Kyiv Commercial Court, which ended the dispute between Sela Energy LLC and Navigator Complect LLC, which had been going on since 2023.
It is noted that in January 2021, Sela Energy LLC, owned by Ihor Mazepa and partners, acquired Navigator Komplekt LLC, owned by Oleh Tokar and partners, for $1.8 million from Navigator Mainytske LLC, which uses the Mainytske area on the basis of special permit No. 4769 until 2036.
Dispute over the Mainytske field
Subsequently, a conflict arose between the parties to the transaction: the Buyer claimed that the gas reserves at the field were less than those declared by the Seller and therefore requested amendments to the sale and purchase agreement to adjust the value of the corporate rights of the business. The Seller, in turn, claimed that the Buyer did not want to complete the field and pay the so-called bonus payment and, therefore asked the court to recover 100% of Navigator Mainytske LLC from the Buyer. In May 2024, the parties began to negotiate and eventually settled the dispute amicably out of court.
According to YouControl, on 23.01.2025, Sela Energy returned 100% of Navigator Mainytske LLC to Navigator Complect, and from 29.01.2025, the ultimate beneficial owner of Navigator Mainytske is Oleh Tokar.
According to NaftoRynok, the Mainytske gas field is part of the Zaluzhanske gas field, which was explored and developed by the state-owned company Ukrgazvydobuvannya, but in 2016 the state company abandoned it. At that time, Oleh Prokhorenko and Oleksandr Romaniuk were the top executives of Ukrgasvydobuvannya.