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NK Lukoil OAO Buys 50% of Kalmtatneft from Tatneft' OAO-Interfax

Thursday, 20 Jun 2013 03:31am EDT 

Interfax reported that NK Lukoil OAO (Lukoil) has purchased a 50% stake in Kalmtatneft from Tatneft' OAO for $15 million, Lukoil President Mr. Vagit Alekperov told journalists on the sidelines of the St. Petersburg International Economic Forum. The Company now plans to drill a deep exploration well at a cost of roughly $50 million, he said. Lukoil is attracted to the project because infrastructure for its Filanovskoye field development in the Caspian runs through Kalmtatneft territory. Kalmtatneft produces oil, gas, associated components in Kalmykia. It holds an exploration and production license to the Tsekertinsky section in Kalmykia valid until January 31, 2027. Production at the field has not commenced. 

Company Quote

-15.6 -0.74%
22 Aug 2014