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Rosneft Absorbs Itera to Step Up Competition with Gazprom
2.07.2013 14:38
Rosneft Absorbs Itera to Step Up Competition with Gazprom
Photo Credit: http://www.rosneft.com/

Rosneft has consolidated its stake in ITERA Oil and Gas Company, says the state-run corporation’s official press release.

      The Russian oil giant acquired the remaining 49 percent from Itera Holdings Limited for $2.9 billion.

      The deal will empower Rosneft to accelerate the development of the Kynsko-Chaselsk group of fields.

      Earlier, in August 2012 Rosneft and ITERA set up a joint venture whose consolidated proved and probable reserves under international classification amount to 427.2 bcm of gas and 25.8 million tonnes of liquid hydrocarbons.

       




Author: Mikhail Vesely

Tags: Rosneft     

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