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Russia: Oil Acquisition Novatek Takes Over Chernichnoye Field

| Editor: Ahlam Rais

The firm has acquired the field from oil company, Mangazeya. The transaction is expected to close in early 2018.

Novatek has acquired OOO Chernichnoye from Oil Company, Mangazeya.
Novatek has acquired OOO Chernichnoye from Oil Company, Mangazeya.
(Bild: Deposit Photos)

Moscow/Russia – Novatek, one of the largest independent natural gas producers in Russia has recently announced that an agreement was concluded to acquire OOO Chernichnoye from Oil Company, Mangazeya. The transaction is expected to close in early 2018.

OOO Chernichnoye holds the hydrocarbon exploration and production license for the Chernichnoye field located in close proximity to Novatek’s infrastructure. The license contains estimated hydrocarbon resources of 179 million barrels of oil equivalent according to the Russian resource classification as of December 31, 2016.

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