BP, AAR to Divest TNK-BP Stake to Rosneft
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  • 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...

    • October 22, 2012
    Global Deals,Headlines,Region - FSU....

    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

    View Rosneft press release