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RussNeft Paid Nearly $1 Billion for the Four Companies Bought from TNK-BP and Krasnodarekoneft

26.12.2005 "AK&M"

RussNeft OAO bought assets of TNK-BP and Krasnodarekoneft to the amount of $1 billion. The information was voiced by head of RussNeft Mikhail Gutseriev. This is to remind that last week RussNeft completed purchase of Saratovneftegaz, Orenburgnefteprodukt, Orsk Refinery, Neftemaslozavod in Orenburg and a refinery in Krasnodarsky krai, Krasnodarekoneft.

M.Gutseriev declined to comment on how much the company had paid for the assets of TNK-BP and for the oil refinery in the Krasnodarsky krai, saying the total amount of the deals was about $1 billion.
The oil production volume of Saratovneftegaz comes to 42 thousand barrels per day of oil equivalent with proved and prospective reserves of 163 million barrels.
Orenburgnefteprodukt has 101 gas-filling stations and 37 tank farms.  The template capacity of Orsknefteorgsitez is 6.7 million tons. In the first half of 2005 the company produced 1.758 million tons of oil products.

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