Rosneft Buys 35.5% Stake In Taas-Yuryakh Project For $444 Million
March 15 2012 - 10:18AM
Dow Jones News
Russian state-controlled oil company OAO Rosneft (ROSN.RS) said
Thursday it closed a deal to buy a 35.5% stake in the Taas-Yuryakh
project in East Siberia for $444 million from state lender OAO
Sberbank (SBER.RS).
Rosneft signed a preliminary purchase agreement with Sberbank
last month.
Taas-Yuryakh Neftegazodobycha holds production licenses for the
Srednebotuobinsk oil and gas condensate field, which is situated
160 kilometers north of the East Siberian-Pacific Ocean, or ESPO,
pipeline.
Until 2009, the 35.3% stake in Taas-Yuryakh Neftegazodobycha was
held by mid-sized oil producer Urals Energy, which had to hand the
asset to Sberbank during the 2008-2009 financial crisis to cover
overdue loans.
-By Jacob Gronholt-Pedersen, Dow Jones Newswires; +7 495
232-9197, jacob.pedersen@dowjones.com