Agreed with Schlumberger Eurasia Drilling about buying a 51% stake in the company


Moscow. July 21. INTERFAX.RU – Schlumberger has signed a contract with Eurasia Drilling Company (EDC) for the purchase of 51% stake in the company, the report said Schlumberger.

The closing of the transaction is subject to approval by the Federal Antimonopoly service of Russia (FAS).

“The agreement extends the successful long-term relationships established by the two companies in 2011”, – stated in the message.

In early 2015, shareholders of Eurasia Drilling agreed to sell Schlumberger 46% of the Russian drilling company, with an option to purchase the remaining 54% three years after implementation of the first stage of the transaction. However, Russian authorities were strongly against this transaction, as, in their opinion, she carried a threat to the Russian exploration market. Approval of the transactions is constantly delayed. At the end of September 2015, the company said it refused the transaction.

Earlier also it was reported that a consortium of international investors in the Russian direct investment Fund (RDIF), the Russia-China investment Fund (RCIF created by RDIF and China Investment Corporation) and leading foundations of the Middle East have agreed on the principal terms of investments in Eurasia Drilling. According to FAS, the Agency has not yet received the documents with the petition for approval to the consortium deal to buy a stake in Eurasia Drilling Company (EDC), however, the issue of the FAS were instructed to study.

Eurasia Drilling specializiruetsya on drilling in Russia, both on land and offshore, the Park has four private Jack-up rig, which is contracted to drill in the Caspian sea.

According to the latest data, control Eurasia Drilling CEO Alexander Djaparidze (about 31%) and its partner, the former head of Rosneft (MOEX: ROSN) Alexander Putilov (20%). It was also known that earlier, 3% of the company’s shares through the funds belonged to the head of “LUKOIL” Vagit Alekperov.

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