| IN THE MEDIA | CONTACT
A leading provider of business research for the Oil & Gas Industry

NEWS

Back to Posts
Download1Derrick

iOS and Android Apps
  • BP, AAR to Divest TNK-BP Stake to Rosneft

    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...

    BP, AAR to Divest TNK-BP Stake to Rosneft
    Global Deals, Headlines, Others

    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

    October 22, 2012
  • BP to pursue sale of its interest in TNK-BP

    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...

    BP to pursue sale of its interest in TNK-BP
    Global Deals, Headlines, Others

    • BP has received unsolicited indications of interest regarding the potential acquisition of its shareholding in TNK-BP
    • BP has, thereafter, notified Alfa Access Renova (AAR) of its intention to pursue the potential sale

    TNK-BP highlights:

    • Corporate structure: BP (50%) and AAR (50%)
    • Upstream assets are located primarily in Russia - West Siberia, East Siberia, and Volga-Urals (Orenburg Region)
    • As of 31-Dec-2011,
      • Proved Reserves (SEC reporting) – 9,900 MMBOE (49% gas)
      • Proved plus Probable plus Possible Reserves – 39,350 MMBOE (PRMS reporting)
    • 2011 Production: 1.99 MMBOE/d

    June 2, 2012
  • BP Begins Next Stage in TNK-BP Sale

    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...

    BP Begins Next Stage in TNK-BP Sale
    Global Deals, Headlines, Others

    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.

    View AAR press release

    July 19, 2012
  • Rosneft, BP to Negotiate Share Purchase of TNK-BP

    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...

    Rosneft, BP to Negotiate Share Purchase of TNK-BP
    Global Deals, Headlines, Others

    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.

    Read Rosneft press release

    July 24, 2012
  • TNK-BP Sells Certain Upstream Assets in Western Siberia

    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...

    TNK-BP Sells Certain Upstream Assets in Western Siberia
    Global Deals, Headlines, Others

    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.

    View TNK-BP press release

    August 21, 2012
  • Reuters: BP May Acquire 12.5% of Rosneft in TNK-BP Sale

    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...

    Reuters: BP May Acquire 12.5% of Rosneft in TNK-BP Sale
    Global Deals, Headlines, Others

    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 original article

    On 1-Jun-2012, BP announced its intention to pursue a sale of its 50% interest in TNK-BP.

    September 20, 2012
  • BP Abandons Alaskan Field Development

    Reuters reported that BP decided not to proceed with an $1.5 billion offshore oil project in Alaska after concluding it would be too expensive.The Liberty field, discovered in 1997, is about five miles off Alaska’s northern coast in the shallow waters of the Beaufort Sea.The field holds recoverable...

    BP Abandons Alaskan Field Development
    Headlines, Projects & Capex, Others

    Reuters reported that BP decided not to proceed with an $1.5 billion offshore oil project in Alaska after concluding it would be too expensive.

    • The Liberty field, discovered in 1997, is about five miles off Alaska’s northern coast in the shallow waters of the Beaufort Sea.
    • The field holds recoverable reserves of 100 MMbbl, and expects to produce 40 Mbbl/d.

    Dawn Patience of BP Exploration (Alaska) Inc said, "We are not going to pursue Liberty in its present form. The project, as it's designed right now, doesn't meet BP's standards". BP may still try to develop Liberty later.

    View original article

    July 11, 2012

Get instant access to our databases

For subscriptions and other enquiries write to us at sales@1derrick.com

else leave your details and we will get in touch with you.

COPYRIGHT 2017 1DERRICK. ALL RIGHTS RESERVED.