print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Rosneft Oil Company press releases

Rosneft Oil Company

September 24, 2013

Rosneft acquires Enel stake in SeverEnergia

Sochi, September 24, 2013. Rosneft agreed to acquire a 40% stake in Arctic Russia B.V. from Enel, which will lead to Rosneft’s indirect ownership of a 19.6% stake in SeverEnergia. The stake will be acquired by NGK Itera, a subsidiary of Rosneft, which is a center consolidating gas assets within Rosneft group.

The transaction will help considerably increase Rosneft recoverable gas reserves, and will create a solid ground for consistent implementation of the Company’s gas strategy, aimed at gas production increase to 100 bcm per year and transformation of Rosneft into the largest independent gas producer in Russia.

The transaction is valued at 1.8 billion USD and its completion is subject to regulatory and other approvals.

The parties also continue to work actively on developing cooperation in the area of gas supplies.

Commenting on the agreement signed, Igor Sechin, Rosneft President and Chairman of the Management Board, said: "Gas business is one of the Company's strategic development priorities. Acquisition of a stake in SeverEnergia will create a multiplying effect for further growth, it will help generate additional synergies from the joint asset development within the Yamal Gas Cluster through optimization of capex and sales channels, it will also help the Company in the long run to expand contracted gas deliveries, increasing the Company's market cap and raising shareholder value".

Notes for Editors:

About SeverEnergia
SeverEnergia is a joint gas production venture with assets in Yamal-Nenets Autonomous Region of Russia. 51% is held by Yamal Development – a joint venture of Novatek and Gazprom Neft, established on a parity basis. 49% stake is held by Arctic Russia B.V. - a joint venture between Italian Eni and Enel, where the parties hold 60% and 40% respectively.

SeverEnergia owns licenses for 9 fields, of which 4 largest are Samburgskoye, Yaro-Yakhinskoye, Yevo-Yakhinskoye and Severo-Chaselskoye. Proven and probable reserves stand at 7.3 billion boe.

About Enel
Enel is Italy’s largest power company, and Europe’s second listed utility by installed capacity. It is an integrated player, selling power and gas to around 61 million customers. Enel operates in 40 countries worldwide, with a net installed capacity of approximately 98,000 MW and about 74,000 employees.

 

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer