FinancePlus by Charles Borden 12 April 2012
RIA Novosti reports that Russia’s Federal Anti-monopoly Service (FAS) has approved a petition by Russian oil company Rosneft to buy 51% of Itera. In February, Rosneft and Itera inked a strategic cooperation agreement under they would carry out joint exploration and development of gas fields in Russia. The agreement provided for the establishment of a joint venture that would assume all gas assets of the Itera (including 49% of Sibneftegaz, 49% of Purgaz and 67% of OGC-Uralsevergaz) and Rosneft’s Kynsko Chaselskoi gas field. In the future, it is planned to transfer other gas assets of Rosneft to the joint venture.
