LUKOIL and the owners of ZAO Samara-Nafta signed a purchase and sale
agreement for 100% of the shares of ZAO Samara-Nafta, the oil producing company
in Samara and Ulyanovsk regions of the Russian Federation.
The oil production rate comes to around 2.5 million tons of oil
per year. The company has Ñ1 and Ñ2 category oil reserves in the amount of around 85 million tons what
creates a sufficient potential for oil production growth.
The transaction amount came to USD 2.05 billion which translates
into 3.4 USD per barrel of C1+C2 reserves.
ZAO Samara-Nafta has the rights to explore and develop more than
60 fields within 23 license areas. The commercial oil is fed to the main pipeline owned by OAO Transneft. The fields owned by the company are at the initial development stage
and make it possible to maintain and build up the production rate. The
acquisition of Samara-Nafta that possesses ready oil treatment capacities will
enable LUKOIL to create the base for further LUKOIL promotion in the above
region. Availability of oil refining, petrochemical and transportation
capacities owned by LUKOIL Group in the region will create a visible synergistic
The transaction will be closed upon its approval by the Federal
“We have acquired a high-quality asset with a long-term growth
potential in a new region that is characterized by one of the most developed oil and gas infrastructures in Russia and
located in the close proximity to major petroleum product sales markets. The
above transaction harmonizes with the Company’s Development Strategy until 2021
that provides for stabilization and growth of oil production rate in Russia”, -
Vagit Alekperov, LUKOIL President, said.