Naftogaz selects Ernst & Young to assess cost of assets
National joint-stock company Naftogaz Ukrainy has selected Ernst & Young (Kyiv) to define a fair price of its assets, licenses for the use of deposits and oil and gas fields, investment in joint activities and uncompleted capital investment of subsidiaries and economic entities where the state holding holds at least 51%.
According to the report on the state procurement Web site, the cost of the offer accepted on August 15 came to UAH 14.8 million (value added tax is included).
The assessment is to be conducted over 220 days or by May 2015 if the agreement is signed by September 15, 2014.
Baker Tilly Ukraine, with an offer of UAH 20.2 million, and Deloitte & Touche (both based in Kyiv) with an offer of UAH 18.72 million, also took part in the tender.
According to the tender documents, assets of the managing company, public joint-stock company Ukrtransgaz, public joint-stock company Ukrgazvydobuvannia, public joint-stock company Ukrtransnafta, public joint-stock company Ukrspetsrtansgaz, subsidiary Zakordonnaftogaz, subsidiary Ukrautogaz and OJSC Kirovohradgaz will be assessed.
Naftogaz Ukrainy unites oil and gas production assets in Ukraine, and is the country's gas transit, underground gas storage, and oil pipeline transportation monopoly.
