Tatneft acquires another oilfield services business from Tagras

KAZAN. May 13 (Interfax) - Russian oil company Tatneft has acquired Tagras-Khimservis from Tatar oilfield services group Tagras, data from the SPARK-Interfax system on changes in the Unified State Register of Legal Entities (USRLE) showed.

Tatneft became the new owner of Tagras-Khimservis, which was part of Tagras Holding's Tagras-Remservis division, on May 12, the USRLE entry showed.

This is the eighth company, not counting subsidiaries, that Tatneft has purchased from Tagras in April-May 2022.

An earlier report citing USRLE data said that Tatneft acquired seven Tagras companies on April 29: KRS-Servis LLC, Mekhservis-NPO LLC, NKT-Servis LLC, TMS-Logistika LLC, UK Tatburneft LLC, UK Tatspetstransport LLC and Tatintek.

Tatneft has not disclosed the price of or the number of Tagras businesses that are included in its deal with the group.

"External factors, which include market volatility, OPEC+ restrictions and expensive borrowing rates, have limited the re-equipment and high-tech development possibilities of oilfield services. Understanding how high the potential of the republic's service companies is, we decided to acquire the Tatar companies [of Tagras]," a Tatneft spokesman told Interfax.

In-house oilfield services will make it possible to realize the oil company's potential in drilling and well development, increase the efficiency of geotechnical, design, engineering and other work in the area of oil production and development of oil fields, he said.

Tagras, which has ties to former Tatneft CEO Shafagat Takhautdinov, was established in 2006, when Takhautdinov still headed the oil company. According to media reports, Tagras Holding was formed in part on the basis of assets removed from Tatneft.

In July 2021, Tatneft acquired TNG-AlGIS LLC, an oilfield services company that conducts geological and field geophysical work at structural, exploration and production wells, from Tagras for 1.19 billion rubles.