Hess Confirms Sale of Samara-Nafta to LukOil
Hess Corporation announced today it has entered into an agreement with OAO LUKOIL to sell 100 percent of its Russian subsidiary Samara-Nafta for a total consideration of $2.05 billion. Based on its 90 percent interest in Samara-Nafta, total after tax proceeds to Hess are expected to amount to approximately $1.8 …
LUKOIL Acquires 100% OF Samara-Nafta
LUKOIL and the owners of ZAO Samara-Nafta signed a purchase and sale agreement for 100% of the shares of ZAO Samara-Nafta, the oil producing company in Samara and Ulyanovsk regions of the Russian Federation. The oil production rate comes to around 2.5 million tons of oil per year. The company …