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NK Rosneft' OAO Acquires AK Alrosa OAO's Oil and Gas Assets


Thursday, 26 Sep 2013 08:00pm EDT 

NK Rosneft' OAO (Rosneft) announced that Rosneft agreed to acquire a number of oil and gas assets from AK Alrosa OAO (ALROSA) in Yamalo-Nenets Autonomous Region and in the Republic of Sakha (Yakutia), including 100% holdings in CJSC Geotransgaz, Urengoi Gas Company LLC, CJSC Irelyakhneft and the 99.9995% stake in OJSC ALROSA -Gas. The agreement was signed by Rosneft President and Chairman of the Management Board Mr. Igor Sechin and President of ALROSA Mr. Fedor Andreev in the presence of Prime Minister of the Russian Federation Mr. Dmitry Medvedev. The transaction is valued at USD 1.38 billion. The acquisition of ALROSA assets will increase Rosneft recoverable gas reserves by more than 200 bcm and will give a boost to its Yamal Gas Cluster development.