Slavneft sells servicing asset
MOSCOW. Aug 16 (Interfax) - Slavneft's subsidiary, Slavneft-Megionneftegaz , closed its control of LLC Megion-Service on August 15, Slavneft-Megionneftegaz said in a statement.
Slavneft told Interfax that Megionneftegaz has sold Megion-Service. The sale was part of the parent company's program for selling off its servicing assets.
The company specified neither the transaction's value nor the buyer.
LLC Megion-Service is primarily engaged in well repair operations.
At the end of 2010, Slavneft said that it had sold servicing assets worth around 2.2 billion rubles. The company continued with this program in 2011.
It was earlier reported that the decision to sell off Slavneft's servicing enterprises had been made at the end of 2009. The spin-off of these assets from the holding will allow Slavneft to focus its efforts on the development of its main production. The company hopes that this step will facilitate a decrease in production expenditures, development of competitiveness and improvements in the quality of services rendered on the oil-servicing market.
Gazprom Neft and TNK-BP own Slavneft on a parity basis.
