Russia - 03

Russia: Vankor and Taas Sale Aids Sechin

On 16 March Rosneft President Igor Sechin signed several deals with Indian companies ONGC Videsh, Oil India, Indian Oil and Bharat Petroresources. As a result, the Indian firms will acquire 49.9% and 29.9% stakes in Rosneft’s Vankorneft and Taas-Yuryakh Neftegazodobycha subsidiaries, respectively. Vankorneft owns the license for the Vankor field, Rosneft’s top East Siberian producing asset, and also operates three other major adjacent fields: Suzunskoye, Tagulskoye and Lodochnoye. Taas-Yuryakh has the license for the Srednebotuobinskoye field in Yakutia; last fall, Rosneft sold a 20% stake in the subsidiary to BP.

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