LUKOIL could buy a stake in Bashneft

MOSCOW, 12 February. LUKOIL informed the Russian government about the desire to acquire a stake in state-controlled companies “Bashneft”. As reported by the Agency Reuters referring to a source in the government of the Russian Federation, currently the purchase of “Bashneft” is interested in several companies.

In LUKOIL, the Agency stated that “do not comment on rumors”.

According to the news Agency, the government is considering two options for the privatization of “Bashneft” – sale of 50% stake in the company, or a more moderate option in the form of the sale of 25% of shares through the stock exchange.

The Federal property management Agency owns 50,08% of the authorized capital of “Bashneft”, Bashkortostan – 25% plus one share.

Earlier, the head of the Ministry of economic development Alexei Ulyukayev said that in the first place can be privatized Bashneft, ALROSA and Rosneft. According to the Minister, is a public company listed on the market, therefore they are technically and legally ready for the best privatization and best known to the investor.

At present “LUKOIL” and “Bashneft” realizes the project on development of deposits.Trebs and Titov in the Nenets Autonomous Okrug (NAO). Bashneft received the license to develop the fields. Trebs and Titov on the results of the 2010 competition In October 2013, the joint venture “Bashneft-Polyus” (“LUKOIL” -25,1%, Bashneft – 74,9%) announced the start of oil production at the field. In the future joint venture plans at the field to produce 4.5-5 million tons of oil per year.