2 Aug 2021 16:24

Igor Rotenberg pulls out of biggest drilling contractor, Gazprom Bureniye

MOSCOW. Aug 2 (Interfax) - Igor Rotenberg and associates have divested their stake in LLC Gazprom Bureniye, Russia's biggest drilling contractor.

The contractor's new owner with a 100% interest is Moscow-based JSC NPS Star, according to the Unified State Register of Legal Entities. The co-owners of JSC NPS Star as of the end of 2020 were private individuals Ekaterina Mikhailova and Denis Baranov, according to the company's financial statement. The company was set up at the end of 2019 and had one employee at the end of 2020.

The previous co-owners of Gazprom Bureniye LLC were Igor Rotenberg, with 78.71%; Alexander Zamyatin, with 5%; and Oscar combined closed-end investment fund managed by Evocorp Managing Company LLC, with 16.29%.

Gazprom Bureniye, formerly Burgas, was created in 1997 on the basis of specialized drilling divisions forming part of Gazprom's gas production enterprises. In 2011, Gazprom sold the drilling company to Arkady Rotenberg, who resold it to his son Igor in 2014. From the moment of its privatization, the immediate owners of shares in the LCC were legal entities registered in Cyprus, and later in Saint Lucia. The company's owners transferred it to Russian jurisdiction in 2018.

Gazprom Bureniye paid its owners 54.68 billion rubles of dividends from 2012 to 2021.

Its sales revenue fell 15% in the 2020 crisis year to 92.822 billion rubles, second only to record sales of 110 billion rubles achieved in 2021.

The drilling company's average headcount rose to 5,193 during 2020.