NK Lukoil OAO Acquires 100% Of Samara-Nafta ZAO-Dow Jones

Monday, 1 Apr 2013 08:00pm EDT 

Dow Jones reported that NK Lukoil OAO (LUKOIL) and the owners of Samara-Nafta ZAO signed a purchase and sale agreement for 100% of the shares of Samara-Nafta ZAO, the oil producing company in Samara and Ulyanovsk regions of the Russian Federation. The oil production rate comes to around 2.5 million tons of oil per year. The company has 1 and 2 category oil reserves in the amount of around 85 million tons what creates a sufficient potential for oil production growth. The transaction amount came to USD 2.05 billion which translates into USD 3.4 per barrel of C1+C2 reserves.