Schemes with offshore companies and $404 million: a scam around drilling rigs in Crimea is revealed

Law enforcers have completed an investigation into an intermediary in the Boyko rig case who helped to siphon off hundreds of millions of dollars in the purchase of drilling rigs for work off Crimea. The suspect faces up to 12 years in prison.

This was reported by the press service of the State Bureau of Investigation.

SBI investigators have completed a pre-trial investigation into one of the participants in the criminal case of embezzlement of funds of Chornomornaftogaz during the purchase of offshore drilling rigs, known as the Boyko Rig case. The indictment has already been submitted to the court.

According to the investigation, the defendant was an intermediary in a criminal organization created with the participation of representatives of the then government. He found, acquired and ensured the functioning of fictitious foreign companies, through which he and his accomplices seized more than USD 404 million from Chornomornaftogaz in 2010-2011.

The money was used to purchase two offshore jack-up drilling platforms under contracts with foreign companies. As the investigation found out, the cost of the rigs was artificially inflated by almost two times.

The defendants also tried to launder the money through a number of banks in Ukraine and abroad.

His actions were classified under a number of articles of the Criminal Code, including participation in a criminal organization, embezzlement on a large scale, forgery, forgery of documents and legalization of illegally obtained property. These crimes are punishable by up to 12 years in prison.

In September 2023, Ukraine regained control of the so-called Boyko oil rigs, which are drilling platforms for gas and oil production in the Black Sea near Crimea. After the occupation of the peninsula, Russia seized these facilities in 2015 and used them for military purposes, including as helipads and platforms for radar equipment.

The operation to regain control was carried out by the Defence Intelligence of Ukraine. The drilling rigs Petro Godovalets and Ukraina, as well as the Tavrida and Syvash jack-up platforms were returned.

Анна Бальчінос