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Rosneft and Itera Create a Joint Ventrue

Rosneft is a Russian oil significant and among the world's top publicly traded oil and gas companies. The business is mainly engaged in the exploration and production of oil and gas and the production and sale of petroleum products and petrochemicals. Kynsko-Chaselsk is actually a license obstruct in the Krasnoselkupsk region of the Yamalo-Nenets independent district. The Kynsko-Chaselsk certificate block consists six deposits: Kynskoye, Fakhirovskoye, Novo-Chaselskoye, Naumovskoye, Ust-Chaselskoye and Verkhne-Chaselskoye. ITERA Oil and Gas Organization is one of the major independent suppliers and vendors of natural gas in Russian federation. ITERA has been crafting its own gas production inside the Yamalo-Nenets independent district since 1998. The corporation has put in over $2 billion inside the gas creation sector. ITERA was the 1st private company to put gas deposits inside the north of Russia in to service. Rosneft and ITERA Group have got closed a deal to create a joint venture on the basis of ITERA Oil and Gas Company to produce and sell gas in accordance with the terms of a proper cooperation arrangement signed upon 28 Feb . 2012. Rosneft obtained 51% in the joint venture in exchange for a 100% risk in the rental capital of Kynsko-Chaselskoye Neftegaz (which is the owner of the certificate for the Kynsko-Chaselsk license block) and a funds consideration of $173. some million. This sum could possibly be adjusted pursuing an examination of the financial results of ITERA Coal and oil Company, its subsidiaries and affiliates and Kynsko-Chaselskoye Neftegaz as of the offer completion time. Also Rosneft gets control over Itera's " Sibneftegas" " Puregas" (49%) and " Uralsevergas" (67%). The joint venture's consolidated proved and probable (2P) reserves underneath international classification will total 372. some billion cubic metres of gas and 15. several million tonnes of the liquid hydrocarbons. The JV's outlook gas result in 2013 is approximately 13 billion cubic metres. Rosneft President Igor Sechin explained of the deal: " Incorporating the gas assets with the two...

28.07.2019

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