NOVATEK bought 26% in three companies

15.03.2010 (16:16)

NOVATEK spent 1.297bn rub. to buy 26% in three companies from United Capital Partners, the company informed.

It concerns Oiltekhproduct Invest, Petra Invest-M and Tailinskneftegaz having the licenses on the development of the fields in Yamalo-Nenetsky region.

In 2007 NOVATEK bought 25% in these companies for 1.25bn rub. from UCP.

Then, within the deal NOVATEK entered into obligations to refinance the debts of these entities in the total volume of 277mln rub.

Thus, in Feb. NOVATEK increased its share in the authorized capital of these companies to 51% in each of them.

The prospecting operators involve NOVATEK-Tarkosalneftegaz and NOVATEK - Yurkharovneftegaz.

NOVATEK is ranked as the second producer of natural gas in Russia after Gazprom.

The proved reserves under SEC by Dec. 31, 2009, rose 38.1% to 6.853bn barrell of oil equivalent.

The gross production reached 32.78bn m3; liquid hydrocarbons output coming to 3.049mln ton. The licensed fields are located in Yamalo Nenetsky region. The stocks are traded on LSE.

The 9-month net profit (IAS) declined 17.7% to 16.665bn rub. from 14.555bn rub. prior year; revenues - 62.1bn rub. from 62.691bn rub.; operating profit - 21.969bn rub. from 27.72 bn rub.

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