Interros in talks with nine firms for license of Kovykta gas field

Nov 17, 2003 01:00 AM

Holding company Interros Holding has signed confidentiality agreements with nine companies who are negotiating to buy its stake in a Siberian gas project.
ChevronTexaco, ConocoPhillips, Apache, Total, BHP Billiton, China's CNOOC Ltd., Sinochem International, India's Oil and Natural Gas Corp. and Yukos have expressed interested in acquiring Interros' 25.8 % stake in Rusia Petroleum, which holds the license to the Kovykta gas field.

The controlling shareholder in Rusia is TNK-BP, which is 50 %-owned by BP. According to an Interros source, ExxonMobil, Shell, Petronas Dagangan, China's CNODC and Kuwait's KUFPEC also want to sign a confidentiality agreement.
Analysts estimate the stake to be worth about $ 200 mm-$ 250 mm.

Source: ODJ Select
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