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Rosneft Oil Company

October 20, 2005

Interros and Rosneft agree on the sale to Rosneft of Interros’ stake in Verkhnechonskneftegaz

Interros and Rosneft have reached agreement on the sale to Rosneft of Interros’ 25.94% stake in Verkhnechonskneftegaz.

The deal will be completed after Rosneft has fulfilled all the requisite corporate procedures.

Profile:

OJSC Verkhnechonskneftegaz, established in 2002, holds the license to develop the Verkhnechonsk oil and gas condensate deposit in the Katangsky region of the Irkutsk Oblast.

The Verkhnechonsk deposit is one of the largest in Eastern Siberia, with 83% of the Irkutsk Oblast’s oil reserves. Its C1+C2 recoverable reserves total 201.8 million tons of oil and 3.4 million tons of gas condensate. Natural gas reserves are estimated at 129.2 billion cubic meters.

TNK-BP holds a 62.7% stake in Verkhnechonskneftegaz, the Interros holding structure a 25.9% stake, and the Irkutsk Oblast State Property Management Committee an 11.3% stake.

 

 

 

 

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