US Rockefeller Oil to acquire Tekhneftinvest

Apr 05, 2013 12:00 AM

UK-based Rockefeller Oil Company will acquire upstream oil and gas assets in Russia from VTB Bank for around $1 billion, according to a report citing sources.
It said the firm had agreed to buy 100 per cent of private company Tekhneftinvest, which owns seven deposits with total reserves of 180 million tonnes of oil and 20 billion cubic metres of gas.

The deal has not been completed yet. 
The report said the assets, located in the Yamal-Nenets and Khanty-Mansiisk regions of West Siberia, the hinterland of Russia’s oil production, the world’s largest.

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