The media learned about the Qatari interest of the Fund to purchase shares in “yargeo holds the exploration”


At the meeting with heads of Glencore and the Qatar Fund QIA, bought 19.5% of “Rosneft” President Vladimir Putin said that the Qatar Fund will participate in the production of hydrocarbons in Russia. However, he did not disclose details.

According to the newspaper “Vedomosti”, it could be a proportion of “yargeo holds the exploration” joint venture “NOVATEK” and “Energy” of the former Minister of energy Igor Yusufov. The publication cites three sources close to different shareholders “yargeo holds the exploration”, which said that “Energy” looking for a buyer for its stake. Another interlocutor of the newspaper said that the QIA was considered the purchase of this package. In this fifth source said that Qatar Foundation is just one of the contenders.

Fund “Energy”, the newspaper notes, owns 49% in Tradescom oil project, the only asset “yargeo holds the exploration”. Field work in December 2015 and a month later reached its design production level. Its reserves — 46 MMT of oil and 28 billion cubic meters of gas.

Putin met with the new shareholders of Rosneft, a month after the completion of the privatization of 19.5% of “Rosneft”, in which the Swiss trader Glencore and the Qatari Fund Qatar Investment Autority (QIA) bought the stake for €10.2 billion “I Want to congratulate you on the completion of the closing of the acquisition of 19.5% of our leading oil company “Rosneft”. I want to thank you for your trust, for your decision,” — said Putin.

The meeting was attended by the chief Executive officer of Glencore Ivan Glasenberg, the Executive Director of the QIA, a member of the Royal family of Qatar, Abdullah bin al-Thani, and the head of Italian Bank Intesa Sanpaolo (the main creditor buyers) Carlo Messina. New shareholders in the Kremlin was also attended by CEO of “Rosneft” and Chairman of the Board of Directors of Rosneftegaz (the state holding acted as the seller of actions “Rosneft” following the transaction its share in the company decreased from 69.5% to 50% plus three shares).

Al-Thani gave Putin a “warm welcome” from the Emir of Qatar and said that before the meeting QIA in partnership with the Russian direct investment Fund (RDIF) has signed a deal, involving the investment of $2 billion in Russia. “We have already invested about $500 million,” recalled al-Thani, but the details on the new investments were not disclosed.

A source close to the RDIF said that we are talking about the expansion of the existing partnership between QIA and the FUND, which was that, even in 2014. During the St. Petersburg economic forum in may 2014, it was announced the conclusion of a partnership with QIA, which has agreed to allocate $2 billion for joint investments with the RDIF, said on the website of the Russian Fund. What is the extension of the partnership, the source of Wednesday, January 25, did not specify, a representative of the RDIF declined to comment.

On September 23 the head of the FAS Igor Artemyev told that the government Commission on foreign investment approved the purchase of the Fund QIA almost 25% of the Pulkovo airport for €239 million cost of the first stage of the project on reconstruction of the airport is €1.2 billion.

Source