TNK-BP to have sold its Udmurt Oil Company to RussNeft.
On 29th September NK RussNeft OAO became owner of 100% stake of Udmurt Oil Company OAO, RussNeft statement informs.
Yesterday TNK-BP subsidiaries Sidanko and Udmurtneft reported reduction of their shares in Udmurt Oil Company from 84.9% to 0%. Earlier Sidanko possessed 79.99% of Udmurt Oil Company and Udmurtneft 5%.
TNK-BP press-service informed yesterday that Udmurt Oil Company had been sold in the framework of assets restructuring.
Udmurt Oil Company founded in 1997 is licensed for developing the Patrakovskoye, Turetskoye and Centralnoye oilfields, whose recoverable reserves approximate 15 million tons. The chartered capital of Udmurt Oil Company is made up by 100 thousand equity shares of 1 ruble face-value.
RussNeft is one of the ten first-rate oil and gas companies of RF. Its total recoverable reserves exceed 600 million tons with annual output of 14.5 million tons. RussNeft structures 25 producing, 1 refining and transport entities. The company owns a retail network of petrol stations found in 13 regions of Russia and CIS. In the current year the company has acquired Association Grand ZAO possessing 64 petrol stations in Moscow and Moscow region. Last year RussNeft produced 10 million tons of crude oil. According to its president and founder Mikhail Gutseriev, the company’s turnover amounts to $3 billion. Along with Gutseriev the shareholders of Russneft are some of his business partners.
Stakes ranging from 39.8% to 49% in three producing affiliates of RussNeft (Varieganneft, Ulyanovskneft and Nafta-Ulyanovsk) belong to international feed trader Glencore.