"Rosneft" lands a new role.

It goes from the assets purchase to sale.

"Rosneft", which in recent years has been actively buying up assets, finally acted in the unusual role of a seller. The state-owned company is selling 50% in the oil-producing "Polyarnoe siyaniye" valued at $ 120-150 million, as it considered the project unprofitable. "Rosneft"’s partner the American ConocoPhillips sells the remaining 50% for the same reason. But those wishing to acquire an asset with declining production, which has to be preserved in a few years, have not yet been found.

"Rosneft" put up its 50% - owned in LLC "Polyarnoe siyaniye" for sale, market sources stated to "Ъ" and source in "Ъ" close to the state company confirmed this. The Data-room was opened in the autumn of 2013, the "Polyarnoe siyaniye " value of 100% is estimated at $ 120-150 million. A buyer may immediately consolidate the company: the remaining 50 % of shares are being sold by ConocoPhillips. "Rosneft" declined to comment yesterday, but a source in the state-owned company states that "their interest in the asset still remains".