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First assets of PA Belorusneft in Russia

23.10.2013

First assets of PA Belorusneft in Russia

Belorusneft-Siberia, LLC purchased oil company Yangpur.

This was an auction purchase at the electronic trading platform Sberbank-AST. Payment for the oil asset was made in full and equaled 3.575 billion Russian rubles.

The Federal Anti-Monopoly Service of the Russian Federation sustained a motion of Belorusneft-Siberia for acquisition of 100% shares of Oil Company Yangpur, JSC and assets of Yangpur, Ltd.

Overall total of recoverable company resources is over 40 mln. tons, annual output of oil and gas condensate is approx. 140 thou. tons.

Belorusneft-Siberia, LLC is a subsidiary of PA Belorusneft with a key line of activity in oil services in the Yamalo-Nenets Autonomous District of the Russian Federation.

Acquisition of Oil Company Yangpur, JSC is a part of the business extension plan of PA Belorusneft in the Russian Federation. The overall integration effect of the producing and oil service companies located in the same extraction area is one of the strategies for development of Production Association Belorusneft.

The Republican Unitary Enterprise Production Association Belorusneft is the leading oil enterprise in the Republic of Belarus working in petroleum production for over 40 years. The major activity lines are oil and gas production, oilfield service, hydrocarbon raw materials refining, production science, mechanical engineering, sales of the oil and gas processing products on domestic markets and elsewhere. The range of production activities of the enterprise is growing constantly. Nowadays the Production Association Belorusneft is cooperating with the national oil companies of Venezuela, Ecuador and the leading petroleum enterprises of Russia.
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