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Rockefeller Oil Co to buy Russian upstream assets for $1 bln -report
April 4, 2013 / 5:01 AM / in 5 years

Rockefeller Oil Co to buy Russian upstream assets for $1 bln -report

MOSCOW, April 4 (Reuters) - Britain-based Rockefeller Oil Company Plc will acquire upstream oil and gas assets in Russia from VTB Bank for around $1 billion, Russian business daily Kommersant reported on Thursday, citing sources.

It said the firm had agreed to buy 100 percent of private company Tekhneftinvest, which owns seven deposits with total reserves of 180 million tonnes of oil and 20 billion cubic metres of gas. The deal has not been completed yet.

VTB and Rockefeller Oil were not available for comment early on Thursday.

The paper said the assets, located in the Yamal-Nenets and Khanty-Mansiisk regions of West Siberia, the hinterland of Russia’s oil production, the world’s largest. (Reporting by Vladimir Soldatkin)

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