At the end of December 2011, Gazpromneft-Nefteservis completed the sale of two of the main production unit’s companies – Servisnaya Burovaya Kompaniya (SBK) and KRS-Servis (KRS). Both assets were bought by OJSC RU-Energy Group . The deals were approved by the Russian Federal Anti-monopoly Service.
SBK and KRS will retain their long-term contracts with the Gazprom Neft group companies, with a guaranteed amount of work by the end of 2013. The agreements also provide for the continuation of the new owner’s obligations to comply with the conditions of collective employment agreements adopted by Servisnaya Burovaya Kompaniya and KRS-Servis.
The decision to spin off the oilfield service companies from Gazprom Neft was made by the Board of Directors in March 2010, while the programme to withdraw from the oil field services business ran until the end of 2011. Muravlenkovskaya Transportnaya Kompaniya was sold at the end of January 2011, SpetsTransServis, Noyabrskaya Tsentralnaya Trubnaya Baza and Servisnaya Transportnaya Kompaniya were sold in the summer, and YamalServisTsentr was sold in October. Moreover, in 2011 Gazpromneft-Nefteservis sold a controlling stake in its subsidiary Noyabrskneftespetsstroy. In November 2011, Gazprom Neft Board of Directors reviewed the interim results of the programme to exit from the company’s oilfield services business.
“The finalisation of the transactions for the sale of SBK and KRS completes the company’s programme to withdraw from the oil field services business, which has enabled Gazprom Neft to reduce costs and promote competition in the relevant markets”, said Alexander Dyukov, Chairman of Gazprom Neft’s Executive Board.