BP acquisition of 20% stake in Taas-Yuryakh Neftegazodobycha from Rosneft

Overview:

• BP acquired a 20% stake in Taas-Yuryakh Neftegazodobycha (TYN) from Rosneft to create a new upstream oil and gas joint venture in East Siberia.
• The total consideration was reported to be in excess of $750 million.
• TYN holds production licences for the Central and Kurungsk blocks of the Srednebotuobinsk oil and gas condensate field.
• It was a multi-jurisdictional matter that included elements in Russia, the United Kingdom, Singapore, China, South Korea and Germany.

Jon Moore - Journalist