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  Rosneft Oil Company REGISTER LOG IN

Press Releases > Rosneft Oil Company  all about the company

company search
all press releases
all Rosneft Oil Company press releases

Rosneft Oil Company

October 28, 2016

Rosneft successfully closed the transaction to sell 11%shares in Vankorneft JSC to ONGC Videsh Limited

Rosneft Oil Company and ONGC Videsh Limited closed the transaction for the purchase of 11% of Vankorneft JSC to the Indian company.

The base price of the transaction is Ů. USD 930 mln.

Upon the closing of the transaction ONGC Videsh Limited increased its share in in Vankorneft JSC to 26%.

The closed transaction finalizes the creation of an international energy hub, based on Vankorneft JSC. Earlier in October Rosneft and a consortium of Indian companies, consisting of Oil India Limited (the leader of the consortium), Indian Oil Corporation Limited and Bharat PetroResources Limited closed the transaction for the purchase of 23.9% of Vankorneft JSC to Indian companies.

Indian state companies acquired a 49.9% share in one of the biggest large-scale projects of Rosneft of the last decade. Rosneft will retain 50.1% shares of Vankorneft JSC, majority in the Board of directors, control over the operational activity of the entity, 100% control over the infrastructure of the Vankor cluster (including the Vankor-Purpe oil pipeline), which was transferred to the operator company RN-Vankor

The achieved evaluation of Vankor Project is USD 3.4 per barrel of hydrocarbon reserves (in terms of 2P category using PRMS method) and reflects high potential of the projectís resource base.

Note for editors:

Rosneft subsidiary Vankorneft was established in 2004 to develop Vankor oil and gas condensate field - the largest of the fields, discovered and commissioned in Russia during the last twenty five years. The field is located in the North of Eastern Siberia in Turukhansk District of the Krasnoyarsk Territory 142 km away from Igarka town.

As of 01.01.2016 Vankor field 2P reserves by PRMS classification are 265 mln tons of oil and condensate and 88 bcm of gas.

22 mln tons of oil and 8.71 bcm of gas were produced at Vankor in 2015. Vankor recovery factor is one of the highest in Russia due to the applied technological solutions. High flow rate of the field is secured by the drilling of injection directional and producing wells with horizontal completion. Oil production process is fully automated.

In April 2016 an operator company RN-Vankor was created which controls the regional infrastructure of Vankor cluster (including Vankor-Purpe oil pipeline) and enhances the efficiency and transparency of management of the project.

Rosneft Information Division
Tel.: + 7 (499) 517-88-97




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


Site Map
Privacy Statement | Disclaimer