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MOSCOW -- Two of Russia's biggest oil companies, Noyabrskneftegaz and , are planning to merge early next year, Interfax reported Tuesday, quoting sources in the Tyumen regional administration.
A merger with Noyabrskneftegaz would strengthen Surgutneftegaz, which holds licenses to develop oil deposits in the northern Tyumen region, Interfax said. The news agency added that the government is expected to surrender its share in the two West Siberian companies in January.
In 1993, Surgutneftegaz extracted 31 million tons of oil and Noyabrskneftegaz extracted 25.6 million tons, the news agency said.
Russian Oil Merger
02 November 1994
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