Company news in September 2004 | |||
TNK-BP to Discuss Prospects of Rospan’s Development without YUKOS
TNK-BP’s delegation headed by Mr. Larry McVey, Deputy Managing Director, Production and Technologies, is to visit Novy Urengoy on September 14 in order to discuss the prospects of implementing the investment program of Rospan International CJSC (Novy Urengoy) without participation of YUKOS Oil Company, informed Mr. Vladimir Sudorgin, Deputy Director, Public Relations, of the closed joint-stock company. He noted that the meeting will also discuss the company’s current operations, in particular, gas condensate transportation. In his words, representatives of Gazprom OJSC’s subsidiaries will participate in the meeting – Urengoygazprom LLC and Yamburggazdobycha LLC. As reported earlier, TNK-BP became a 100% owner of Rospan International CJSC in August 2004, by exercising an option to repurchase 56% of the gas-extracting company from Yukos Oil Company. The transaction value is $357 million. Prior to entering into the transaction, TNK-BP was a management company for TNK-BP. Rospan International CJSC develops deep-lying gas seams of the Novo Urengoy and East Urengoy gas and condensate fields in the Yamal Nenets Autonomous Area. The reserves are estimated 950 bcm of gas and 180 mln t of gas condensate.
Source: INTERFAX