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LUKOIL acquires 100% of Samara-Nafta for $2 billion
1.04.2013 20:23
LUKOIL acquires 100% of Samara-Nafta for $2 billion

LUKOIL has acquired 100% of the shares of ZAO Samara-Nafta for $2 billion, reports

LUKOIL and the owners of ZAO Samara-Nafta signed a purchase and sale agreement for 100% of the shares of ZAO Samara-Nafta, the oil producing company in Samara and Ulyanovsk regions of the Russian Federation, said LUKOIL in its official press-release.

ZAO Samara-Nafta has the rights to explore and develop more than 60 fields within 23 license areas. The commercial oil is fed to the main pipeline owned by OAO Transneft. The fields owned by the company are at the initial development stage and make it possible to maintain and build up the production rate. The acquisition of Samara-Nafta that possesses ready oil treatment capacities will enable LUKOIL to create the base for further LUKOIL promotion in the above region. Availability of oil refining, petrochemical and transportation capacities owned by LUKOIL Group in the region will create a visible synergistic effect.

The transaction will be closed upon its approval by the Federal Antimonopoly Service.

Author: Irina Fomina

Tags: Lukoil     

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