Please activate JavaScript in your browser to use all interface options.

« March, 2024
Mo Tu We Th Fr Sa Su
Main page News room Press releases
Press releases

Rosneft Forms an International Consortium on the Basis of Taas-Yuryah Neftegasodobycha

05 October 2016

Rosneft and the consortium of Indian companies, comprised of Oil India Limited (leader of the consortium), Indian Oil Corporation Limited and Bharat PetroResources Limited closed the transaction for the purchase of 29.9% of Taas-Yuryah Neftegasodobycha.

Base price of the transaction is USD 1.12 bln (c. RUB 70 bln).

As a result of the closing of the deal the consortium of Indian companies is entering into the Rosneft and BP joint project on the basis of Taas-Yuryakh Neftegasodobycha. Rosneft will retain a 50.1% stake in Taas-Yuryakh Neftegasodobycha.

Attracting strategic investors will give additional momentum to the development of Srednebotuobinskoye field, one of the largest oil and gas condensate fields in East Siberia, currently producing about 22 thousand barrels of oil per day. Partners within the joint project plan to create the infrastructure for further exploration and development of the reserves in the region.

The achieved evaluation of Taas-Yuryah Neftegasodobycha Project is USD 2.7 per barrel of hydrocarbon reserves (in terms of 2P category using PRMS method) and reflects high potential of the project’s resource base. With account for the multipliers achieved, the design value of hydrocarbon reserves of Rosneft exceeds the current enterprise value of the Company almost twice.

Notes fot editors:

On March, 16th, 2016 Rosneft (acting by the wholly owned subsidiary RN-Razvedka i Dobycha), Oil India Limited, Indian Oil Corporation Limited and Bharat PetroResources Limited signed a legally binding share sale agreement relating to 29.9% participatory share in Taas-Yuryakh Neftegasodobycha.

Taas-Yuryakh Neftegasodobycha develops the central part of the Kurugunsky license block of Srednebotuobinskoye field, located in the Sakha Yakutia Republic.

Srednebotuobinskoye oil, gas and condensate field is one of the top three major assets of Rosneft in the Easter Siberian oil cluster.

As of 01.01.2016 the field’s ABC1+C2 reserves stood at 166 mln tons of oil and condensate and 180 bcm of gas.

The development plan of the field presumes reaching an annual plateau of 5 mln tones of oil.


Rosneft Information Division
Tel.: + 7 (499) 517-88-97
October, 5, 2016

 These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.