MOSCOW, July 13 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 on 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
(Reporting by Katya Golubkova; Editing by David Goodman)