Lukoil to close Samara-Nafta acquisition April 26
SYRACUSE. April 23 (Interfax) - Lukoil will close its deal to acquire CJSC Samara-Nafta on April 26, the oil major's president, Vagit Alekperov, told reporters.
"We'll close the deal to buy this asset on April 26. We think this asset will integrate well with our company because Samara-Nafta has delivered oil to our terminal in Tatarstan," Alekperov said.
"Potential production, as we see from the reserves that there are today, and Hess had the same program - could be 3.6 million-3.8 million tonnes from 2.2 million tonnes at present. Also, the resource base is fairly significant," he said.
Lukoil is buying 100% of Samara-Nafta, which produces around 2.5 million tonnes of oil a year and possesses about 85 million tonnes in C1+C2 oil reserves. Lukoil paid $2.05 billion for the company, which works out at $3.4 per barrel of C1+C2 reserves.
Samara-Nafta has the rights to explore and develop more than 60 fields within 23 license areas. The commercial oil is fed to the main pipeline owned by Transneft . The fields owned by the company are at the initial development stage and make it possible to maintain and build up the production rate.
The Federal Antimonopoly Service has cleared Lukoil to buy 100% of Samara-Nafta.