Lukoil to buy 50% of KalmTatneft
Edited by Rhod Mackenzie / 2013-05-16 06:57:03
The Federal Antimonopoly Service has approved request of Lukoil’s subsidiary, Lukoil Nizhnevolzhsk about the purchase of 50% of KalmTatneft’s shares, the Service reports.
KalmTatneft is registered in Elista; it carries out geological exploration and development of the Kumo-Manychsk and Tsekertinsk deposits. In 2002, when the company received licenses for these blocks, their total reserves were estimated at 70 million tons of oil. In 2008, the enterprise’s production was 1 million tons of oil per year.
