Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Rosneft Boosts Stake in Field

Rosneft boosted its stake in the unit that holds the licenses to oil and gas fields in eastern Siberia for 9.3 billion rubles ($316 million), the state-controlled oil producer said Thursday.

Rosneft consolidated a 99.9 percent stake, up from 70.8 percent, in Eastern Siberian Oil and Gas, which has licenses to the Yurubcheno-Tokhomskoye oil field and Agaleyevskoye gas field, after buying shares held by Montenore Investment and minority investors under a mandatory offer.

Rosneft also closed a deal to acquire 35.3 percent of the Taas-Yuryakh field in a nearby region from state-controlled Sberbank for $444 million.

(Bloomberg)

Read more