The transaction value is estimated at 200 million dollars, writes “Kommersant”. Both “Aurora” have long considered the question of the sale of shares of ConocoPhillips wanted out of the JV back in 2012.
MOSCOW, 3 Nov. Rosneft finishes selection a buyer for its majority stake (50%) in JV with ConocoPhillips “Northern lights,” writes on Tuesday “Kommersant”.
The asset as part of the deal, according to the publication, estimated at $ 200 million, and potential buyers are OOO “Tatneftegaz-North” and the structures of Yuri and Alexei Hotiny.
“Aurora” was founded in 1992, now im on a parity basis own ConocoPhillips and Rosneft (received 50% of the shares from the state “of Arkhangelskgeologia”). The JV owns five oil fields Ardalinskoe group in the Nenets AO. In the early development of the recoverable reserves was estimated at 16 million tons, the oil is delivered by pipeline Usinsk-Yaroslavl for sale in the markets of Europe. However, in recent years production fell, in the future, the performance will rapidly decline, say sources in the market.
Both “Aurora” have long considered the question of the sale of shares of ConocoPhillips wanted out of the JV back in 2012. Then the company conducted a large-scale sale of assets to reduce debt, which sold 18% of LUKOIL. Now the U.S. investor’s other assets in the Russian Federation no. Rosneft started the search for buyers for its stake in the fall of 2013, opening a data-room and assessed value of 100% of asset in 120-150 million dollars, but there were no buyers, the newspaper notes.
Hotine whose business is associated with the development, in recent years became interested in the oil and gas industry, the newspaper said. Their structures, in particular, controlled by oil company “Dulisma” in the Irkutsk region, previously the newspaper’s sources called business as one of the possible buyers at the Saratov oil refinery “Rosneft”. In 2013 Sinclare Finance Alexey hotina bought 30.2% of small British oil company Exillon Energy with proven reserves in Russia 70 million tons. To get comments from Hatinh publication failed.
Rosneft also declined to comment on the situation, the newspaper ConocoPhillips did not respond.