Rosneft announced in a press release that it has agreed to acquire a number of oil and gas assets from ALROSA in the Yamalo-Nenets autonomous region and in the Republic of Sakha (Yakutia), including 100% holdings in CJSC Geotransgaz, Urengoi Gas Co. LLC and CJSC Irelyakhneft and a 99.9995% stake in OJSC ALROSA-Gas. The agreement was signed by Igor Sechin, Rosneft president and chairman of the management board, and Fedor Andreev, president of JSC ALROSA, in the presence of Prime Minister of the Russian Federation Dmitry Medvedev.
The transaction is valued at US $1.38 billion, according to the press release. The acquisition of ALROSA assets will increase Rosneft recoverable gas reserves by more than 200 Bcm (7 Tcf) and will give a boost to the company’s Yamal Gas Cluster development.
Recommended Reading
Exxon Seeks Permit for its Eighth Oil, Gas Project in Guyana as Output Rises
2025-02-12 - A consortium led by Exxon Mobil has requested environmental permits from Guyana for its eighth project, the first that will generate gas not linked to oil production.
Baker Hughes: US Drillers Keep Oil, NatGas Rigs Unchanged for Second Week
2024-12-20 - U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the second week in a row.
US Drillers Cut Oil, Gas Rigs for First Time in Six Weeks
2025-01-10 - The oil and gas rig count fell by five to 584 in the week to Jan. 10, the lowest since November.
E&P Highlights: Jan. 21, 2025
2025-01-21 - Here’s a roundup of the latest E&P headlines, with Flowserve getting a contract from ADNOC and a couple of offshore oil and gas discoveries.
E&P Highlights: Dec. 30, 2024
2024-12-30 - Here’s a roundup of the latest E&P headlines, including a substantial decline in methane emissions from the Permian Basin and progress toward a final investment decision on Energy Transfer’s Lake Charles LNG project.