From Petroleum Economist’s July 2007 issue
TNK-BP’s hopes of retaining its licence for the Kovykta gasfield in eastern Siberia are over. The Russian major has been forced to sell, but has cut a deal and will form a strategic alliance with Gazprom that could lead to new opportunities in Russia and overseas, Derek Brower and Tom Nicholls write
TNK-BP has abandoned efforts to retain a stake in the Kovykta gasfield in Irkutsk, eastern Siberia. Last month, the Anglo-Russian oil major sold its 62.89% holding in Rusiya Petroleum, which holds the licence for the prized Kovykta gasfield, to Gazprom for between $0.7bn and $0.9bn. The deal will also include Rusiya’s 50% share in East Siberian Gas, which is constructing the regional gasification project.
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