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Rosneft and ITERA Group Close Deal to Create Joint Venture to Produce and Sell Gas
Rosneft and ITERA Group have closed a deal to create a joint venture on the basis of ITERA Oil and Gas Company to produce and sell gas in line with the terms of a strategic cooperation agreement signed on 28 February 2012. Rosneft obtained 51% in the joint venture in exchange for a 100% stake in the charter capital of Kynsko-Chaselskoye Neftegaz (which owns the license for the Kynsko-Chaselsk license block) and a cash consideration of $173.4 million. This sum may be adjusted following an analysis of the financial results of ITERA Oil and Gas Company, its subsidiaries and affiliates and Kynsko-Chaselskoye Neftegaz as of the deal completion date.

date.png07 Aug 2012 19:45 | comments.png 0 Comments | tags.png c-asia deals itera rosneft russia upstream [ More ]

ITERA and Zarubezhneft signed Joint Operation Agreement to develop block 21 in the Turkmen sector of the Caspian Sea
V.P. Makeev, Chairman of the Management Board of ITERA Oil and Gas Company, LLC, and N.G. Brunich, General Director of OJSC Zarubezhneft signed a Joint Operation Agreement under the Production Sharing Agreement (the “PSA”) in respect of Block 21 in the Turkmen sector of the Caspian Sea on August 10, 2011.

date.png15 Aug 2011 05:33 | comments.png 0 Comments | tags.png itera turkmenistan upstream zarubezhneft [ More ]
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