RussNeft Transfers 51% Stake at Udmurt National Oil Company to its Balance Sheet
Oil Company RussNeft OAO has transferred 51% stake at the Udmurt National Oil Company, or UNOC, to its balance sheet, RussNeft says in a statement. On March 2nd the company’s share in the capital stock of UNOC increased from 0% to 51%. Before that the above stake was not in the company’s direct possession.
The Udmurt National Oil Company was created in March 1998. It develops the Debesskoye, Polomskoye, Buranovskoye, Pibal’shurskoye, Pyzepskoye, Shadbegovskoye and Kuliginskoye oil and gas fields with 15 million tons of total recoverable crude oil reserves. The annual oil production of UNOC is nearly 200 thousand tons.
Moreover, RussNeft reported that its share at Penzaneft OAO has increased from 20.5739% to 51.0040%.
In the structure of RussNeft there are 30 upstream units, 3 oil refineries, 2 transport companies and modern retail network with 300 gas-filling complexes. The entities of the company are located in 17 regions of Russia and CIS. RussNeft’s total recoverable reserves exceed 630 million tons. Its annual oil output was 17 million tons in 2005.
Moreover, RussNeft reported that its share at Penzaneft OAO has increased from 20.5739% to 51.0040%.
In the structure of RussNeft there are 30 upstream units, 3 oil refineries, 2 transport companies and modern retail network with 300 gas-filling complexes. The entities of the company are located in 17 regions of Russia and CIS. RussNeft’s total recoverable reserves exceed 630 million tons. Its annual oil output was 17 million tons in 2005.
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