Rosneft sold its stake in “polar Lights”

Moscow. December 17. Rosneft closed the deal implement a 50% stake in “polar lights”, is spoken in the message of NC.

“The deal was implemented in great conditions and in full accordance with the strategy of “Rosneft” on the optimization of the asset portfolio. The parties did not disclose financial details of the transaction in accordance with the confidentiality agreement”, – stated in the message.
In a press-service “Rosneft” did not specify who sold the share in the joint venture.

Rosneft JV “polar lights” participated with ConocoPhillips on a parity basis.

“Aurora” was founded in 1992. The JV owns five oil fields Ardalinskoe group in the Nenets Autonomous Okrug (Ardalinskoye, East Kolvinskoye, Oshkotynskoye, West Oshkotynskoye and Central-Khoreyver, the latter open and was commissioned in 2008). In the early development of the recoverable reserves was estimated at 16 million tons, oil from the fields is delivered by pipeline Usinsk-Yaroslavl for sale in the markets of Europe. But in recent years production fell in 2010, she, according to “Rosneft”, was about 700 thousand tons, in 2012 – about 520 thousand tons, and in 2014 fell to 410 thousand tons.

In early November, the newspaper “Kommersant” reported that “Tatneftegaz-North” and a family of businessmen Yuri and Alexei Hotiny interested in the shares of “Rosneft” in “Aurora”. Asset with depleted reserves and declining production is unofficially estimated at $200 million, but experts believe that the real price no higher than $50 million, the newspaper notes.