Rosneft buy's the Swiss Weatherford's business in Russia and Venezuela.

"Rosneft" has bought Weatherford assets.

"Rosneft" continues to collect oilfield assets, buying the Swiss Weatherford's business in Russia and Venezuela. According to "the Kommersant", the amount of the transaction was approximately $ 500 million. The oil workers, on the contrary, believed the OFS to be a non-core business and tend to get rid of it, but "Rosneft" goes against the market, believing that its own assets will help it reduce the costs.

"Rosneft" reported that it was going to buy the Swiss Weatherford's oilfield assets, namely eight companies involved in drilling and workover in Russia and Venezuela. The agreement also provides for the development of the long-term cooperation in the field of the oilfield services. The transaction is expected to close in the third quarter and according to Igor Sechin, the president of "Rosneft", it "is fully consistent with the adopted strategy to develop its own service business". Bernard Duroc-Danner, the CEO of Weatherford, stated that the deal is the part of a plan to sell the non-core business of the company - after that its drilling business (114 plants mainly in the Middle East) will be ready for an IPO scheduled for 2015.