Rosneft signed Heads of Terms with BP and AAR consortium to acquire 100% stake in TNK-BP. BP would receive $17.1 billion in cash and 12.84% of Rosneft shares for its 50% stake while AAR will receive $28 billion in cash for the remaining 50%. On completion, BP will hold a 19.75% stake in Rosneft. TNK-BP...
Rosneft signed Heads of Terms with BP and AAR consortium to acquire 100% stake in TNK-BP.
BP would receive $17.1 billion in cash and 12.84% of Rosneft shares for its 50% stake while AAR will receive $28 billion in cash for the remaining 50%. On completion, BP will hold a 19.75% stake in Rosneft.
TNK-BP highlights
Upstream assets are located primarily in West Siberia (Nyagan, Nizhnevartovsk, Novy Urengoi, Khanty-Mansiysk and Yamalo-Nenets Autonomous Districts, Tyumen and Novossibirsk region), East Siberia (Irkutsk and Verkhnechonskoye region), and Volga-Urals (Orenburg Region)
As of 31-Dec-2011, 1P reserves of 9,900 MMBOE (49% gas) and 3P Reserves – 39,350 MMBOE
2011 production of 1.99 MMBOE/d
As of 31-Dec-2011, the company’s operational well stock consisted of 30,134 wells, of which 21,006 were producing and 8,366 were injection wells. As a result of drilling activities in 2011, 616 new producing wells were brought on stream
Downstream: Holds interests in six refineries in Russia and Ukraine (including Ryazan and Lisichansk and Slavneft’s Yaroslavl refinery). TNK-BP has over 1,400 branded retail stations in Russia and Ukraine. As of 31-Dec-2011, the company had 747 MMbl/d of refining throughput
BP has received unsolicited indications of interest regarding the potential acquisition of its shareholding in TNK-BPBP has, thereafter, notified Alfa Access Renova (AAR) of its intention to pursue the potential saleTNK-BP highlights:Corporate structure: BP (50%) and AAR (50%)Upstream assets are located primarily in Russia -...
BP will enter into a 90-day period of "good faith" negotiations with Alfa Access-Renova, as required by the TNK-BP shareholder agreement, to sell a part or all of its 50% share in TNK-BP.BP will also enter into negotiations, in parallel, with other interested parties for the sale.AAR stated publicly that it was willing...
BP will enter into a 90-day period of "good faith" negotiations with Alfa Access-Renova, as required by the TNK-BP shareholder agreement, to sell a part or all of its 50% share in TNK-BP.
BP will also enter into negotiations, in parallel, with other interested parties for the sale.
AAR stated publicly that it was willing to buy one-half of the BP stake in TNK-BP (25%) at the current market price.
Further to a recent statement from BP of its intentions to sell its 50% shareholding in TNK-BP, Rosneft and BP have expressed interest in commencing negotiations. BP and Rosneft confirmed they have signed a non-disclosure agreement.BP also confirmed that while conducting parallel discussions with Rosneft and any other interested...
Further to a recent statement from BP of its intentions to sell its 50% shareholding in TNK-BP, Rosneft and BP have expressed interest in commencing negotiations. BP and Rosneft confirmed they have signed a non-disclosure agreement.
BP also confirmed that while conducting parallel discussions with Rosneft and any other interested parties, it will negotiate in good faith with Alfa Access-Renova in accordance with its legal obligations.
TNK-BP has divested its 100% interest in OJSC Novoskibirskneftegaz and 71.09% interest in OJSC Severnoeneftegaz to a group of specialist Russian and foreign investors owning assets in the Russian oil and gas industry.Asset Highlights:Novosibirskneftegaz is developing the Verkh-Tarskoe oil field with 12.6 MMT (99.5 MMbbl) of...
TNK-BP has divested its 100% interest in OJSC Novoskibirskneftegaz and 71.09% interest in OJSC Severnoeneftegaz to a group of specialist Russian and foreign investors owning assets in the Russian oil and gas industry.
Asset Highlights:
Novosibirskneftegaz is developing the Verkh-Tarskoe oil field with 12.6 MMT (99.5 MMbbl) of recoverable oil and condensate in A, B, and C1 categories. The company also owns two more licenses in the Novosibirsk Region.
Severnoeneftegaz is developing Vostochno-Tarskoe and Maloichskoe fields with recoverable reserves of 1.8 MMT (14.2 MMbbl) in A, B, and C1 categories.
Reuters cites Kommersant:BP is in talks with Rosneft to sell its 50% interest in TNK-BP in a cash plus equity transaction.Rosneft is looking at buying 25% of TNK-BP's shares for $10-$15 billion in cash with another 25% to be acquired with Rosneft shares. This would result in BP acquiring at least 12.5% of Rosneft.View...
BP is in talks with Rosneft to sell its 50% interest in TNK-BP in a cash plus equity transaction.
Rosneft is looking at buying 25% of TNK-BP's shares for $10-$15 billion in cash with another 25% to be acquired with Rosneft shares. This would result in BP acquiring at least 12.5% of Rosneft.
Bloomberg quoted BP spokesman David Nicholas on talks with Abu Dhabi about renewing rights to produce oil from the ADCO concession: “Constructive discussions are taking place at all levels”.About the ADCO Concession:BP, Exxon Mobil, Shell, Total, and Partex Oil & Gas have been producing oil in Abu...
