12 Nov 2012 18:06

U.S. company Hess looking for buyer for Samara-Nafta

MOSCOW. Nov 12 (Interfax) - U.S. company Hess Corporation has decided to sell oil company Samara-Nafta, which owns licenses for exploration and production of hydrocarbon materials in the Samara and Ulyanovsk regions, Hess said in a statement.

Hess has hired Goldman Sachs as a financial consultant on the sale.

Samara-Nafta has over 60 fields within 21 licensed sections on its balance sheet. C1 reserves, based on 2011 stats, come to 54.4 million tonnes and C2 - 31.6 million tonnes.

According to Hess, the enterprise produces around 50,000 barrels of oil equivalent a day.

Samara-Nafta's net profit for 2011 came to 4.98 billion rubles while sales revenue stood at 22.9 billion rubles.