Support The Moscow Times!

Rosneft, Sukhoi: Business in Brief

Rosneft Agrees to Buy Weatherford Assets in Russia and Venezuela

Russia's Rosneft, the world's biggest listed oil company by output, has agreed to buy drilling and well-servicing assets of oil and gas service company Weatherford International in Russia and Venezuela, the company said Sunday.

Rosneft, which is expanding its own oilfield services unit RN-Burenie, added that it will buy a total of eight Weatherford group companies after all needed approvals are granted. The deal is expected to close before the end of the year.

Russia, the world's top oil producer, needs to increase its drilling to maintain its current output of about 10.5 million barrels per day over the next decade.

Private oilfield services firm Integra says that Weatherford accounted for about 3 percent of the Russian oilfield services market by revenue in 2012, and the largest players were Eurasia Drilling Company, Surgutneftegaz and Gazprom. (Reuters)

Sukhoi Sells 7 Superjets to Kazakh Airline

Russia's Sukhoi Civil Aircraft Company announced a deal for seven Superjet 100 aircraft with Kazakh airline Bek Air at Britain's Farnborough Airshow on Monday.

Sukhoi will deliver three of the long-range, 103-seat airliners in 2015 and four in 2016, the plane maker said in a statement.

The SSJ100 is a regional jet designed, developed and built by Sukhoi Civil in partnership with Alenia Aermacchi, part of Italy's Finmeccanica.

Bek Air, which flies 14 routes in Kazakhstan carrying up to 500,000 passengers annually, plans to expand its domestic network and establish routes to Russia, Asia and the Middle East. (Reuters)

Read more