Rosneft signed the Sale and Purchase Agreement for the Government’s stake of Bashneft Public Joint Stock Company and fully fulfilled its obligations under the agreement, by paying RUB 329.7 bln to the accounts of the Federal Treasury. The deal for the acquisition of the controlling share of the Company is closed.
About Rosneft
Rosneft is the leader of Russia’s petroleum industry and the world’s largest public oil and gas company by liquid hydrocarbon production and reserves. The Company’s core operations are in hydrocarbon exploration and appraisal, production of oil, gas and gas condensate, offshore developments, refining, marketing of oil, gas and oil products inside and outside Russia, and investment activity.
Rosneft’s exploration and production geography spans across all key oil and gas provinces in Russia, namely Western Siberia, Southern and Central Russia, Timano-Pechora, Eastern Siberia and the Far East. The Company also implements projects in Kazakhstan, Algeria, Venezuela, Brazil, Vietnam, the UAE, Canada, and in the Gulf of Mexico. Offshore projects, including in the Arctic, take a special place in Rosneft’s portfolio. Rosneft has joined forces with ExxonMobil, Eni and Statoil to develop Russia’s offshore resources.
About Bashneft
PJSOC Bashneft is, а fast growing vertically integrated russian oil company. In 2015 the Company ranked sixth in terms of oil production and fourth in terms of crude oil refining among Russian oil companies. Bashneft delivers solid financial results and consistently high dividends.