Abramovich's son transfers Diall Alliance to Russian ownership

MOSCOW. March 25 (Interfax) - Saratov's Diall Alliance, which is affiliated with Arkady Abramovich, the son of Russian billionaire Roman Abramovich, has been transferred to Sigma Energy in the Moscow region, according to information from the SPARK-Interfax analytical system.

The corresponding changes were entered into the Unified State Register of Legal Entities on March 23. Royal Atlantic Energy Limited in Cyprus, a subsidiary of Arkady Abramovich's Zoltav Resources, was formerly the company's owner.

Arkady Abramovich is the beneficiary of Sigma Energy, controlling 99.99% of its shares through parent company Sigma Capital LLC and 0.01% directly.

Diall Alliance holds the license to develop the Bortovoy block in the Saratov region, which includes nine oil and gas fields.

The Bortovoy license covers an area of about 3,200 square kilometers along the northern margin of the Precaspian basin, one of the largest hydrocarbon basins in the Commonwealth of Independent States and home to more than 100 issued exploration and production licenses. The license area is divided into two distinct areas, that is, the more developed Western Fields on which a gas processing plant is located and the Eastern Fields. Zoltav Resources drew two lines of credit for its development with Sberbank for a total of 8.4 billion rubles in October of last year.

Bortovoy contains proved plus probable reserves of 131.2 million barrels of oil equivalent, which is 17.5 million tonnes of oil equivalent.