Lukoil and Rosneft sign contracts on the purchase and sale of assets
Posted: 29 July 2003
Ravil Maganov, First Vice-president of OAO LUKOIL, and his counterpart
from OAO Rosneft Nikolay Borisenko signed a number of contracts
today on the purchase and sale of assets belonging to the following
three companies: OAO Arkhangelskgeoldobycha (AGD), ZAO Rosshelf
and OOO Kompaniya Polyarnoye Siyaniye.
According to the Contracts, LUKOIL acquires 477,905 (25.5 per cent)
of the AGD common registered stock from Rosneft for 331,972,000
rubles. Thus, LUKOIL becomes the owner of almost 100 per cent of
AGD.
Rosneft acquires from AGD (a LUKOIL subsidiary) 40,667 (13.604
per cent) of common registered stock of ZAO Rosshelf for 109,060,000
rubles and a 30 per cent share in OOO Kompaniya Polyarnoye Siyaniye
belonging to AGD for 221,606,000.
“The result of these mutually beneficial transactions is
full mutual understanding on a number of contentious issues between
LUKOIL and Rosneft who intend to focus on the implementation of
specific oil production projects which are now being executed by
AGD, Rosshelf and Polyarnoye Siyaniye”, Vagit Alekperov, President
of LUKOIL, said.
An audit conducted by the US company Miller and Lents shows that
AGD has 1,399 million barrels of proved oil reserves, whereas Polyarnoye
Siyaniye has 54.17 million barrels of proved reserves. In accordance
with the Russian classification, the C1 category reserves of ZAO
Rosshelf total 85 million tons of conventional fuel and over 2.5
billion cubic meters of gas.
For more information see http://www.lukoil.com/.
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
