FAS Approves TNK-BP’s Purchase of Two Companies in the Orenburg Region

As reported previously, in early February Orenburgneft submitted an application to the FAS to acquire 100% of Universitet-nedra and Klyuchi, which are specialized in oil and gas production and in provision of drilling services.
According to the SPARK data base, Universitet-nedra belongs to LLCS NRK-OIL, while Klyuchi is owned by Korporatsiya Orenburg Neftegaz, of which CJSC NRK is the controlling shareholder. Both companies are registered at the same address. TNK-BP’s press service stated that the company is engaged in integrated development of over 100 small fields in the Orenburg Region and is continuously increasing production volumes. For instance, output growth in 2009 represented 6.3%. “TNK-BP will continue to optimize its portfolio of upstream assets aiming at acquiring highly efficient fields, the development of which will further boost the company’s value”, said a company representative.
Also in early February, the FAS received an application from Cyprus-registered Delkor Holdings Limited for preliminary consent to the purchase of 100% of LLC Tarkhovskoe. Part of the TNK-BP Group, Tarkhovskoe produced 302,000 t of oil in 2009 and holds subsoil usage licences for the Ershovyi, Zapadno-Sorominskiy, Nikolskiy, Sorominskiy, Tarkhovskiy and Tul-Yoganskiy licence blocks in KhMAO.