| Rosneft and Sberbank reach agreement in principle on Taas-Yuryakh project |
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03/02/2012 03:51 (117 Day 11:18 minutes ago) | |||||
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The FINANCIAL -- Rosneft and Sberbank signed a tentative agreement on the acquisition by Rosneft of a 35.3 percent stake in Taas-Yuryakh Neftegazodobycha,according to Rosneft.
Taas-Yuryakh Neftegazodobycha holds production licences for the Srednebotuobinsk oil and gas condensate field, which is situated 160 km north of the ESPO pipeline. Recoverable oil reserves of the field are estimated at 90.9 million tonnes of C1 and 38.9 million tonnes of С2 category.
Due to its size the field was put on the list of Fields of Federal Importance on March 18, 2010. The deal price was set at $444 million, which equals to the historical cost incurred by Sberbank.
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