RussNeft Inks $400M Deal

Oil company RussNeft bought two Novosibirsk oil and gas producers from TNK-BP for $400 million to $450 million, a source close to the deal told Interfax.

TNK-BP said it sold the assets, companies Novosibirskneftegaz and Severnoyeneftegaz, to optimize its asset portfolio and to raise the efficiency of its investments per barrel of production.

RussNeft had owned Severnoyeneftegaz before and sold it to TNK-BP in 2007.

(MT)

Read more