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NK Rosneft' OAO Acquires 51% Stake in Petroresurs


Tuesday, 1 Oct 2013 08:00pm EDT 

NK Rosneft' OAO (Rosneft) announced that Mr. Igor Sechin, Rosneft President and Chairman of the Management Board and Mr. Ian Lundin, Chairman of the Board of Directors of Lundin Petroleum AB have signed heads of agreement on Rosneft’s acquisition of a 51% interest in Petroresurs LLC. Petroresurs LLC is owned 70% by Lundin Petroleum and 30% by Gunvor Group and holds exploration license for Lagansky offshore license block in the North-Eastern part of the Caspian Sea. With the block area of 3,386 square kilometers, the Lagansky license block holds the Morskoye field with recoverable C1 and C2 oil reserves of 5.7 million tons and 6.3 million tons, respectively.