Indian consortium acquisition of 29.9% stake in Taas-Yuryakh Neftegazodobycha from Rosneft

Overview:

• A consortium of Indian oil companies - comprised of Oil India, the Indian Oil Corporation and Bharat PetroResources - acquired a 29.9% stake in Taas-Yuryah Neftegasodobycha (TYN) from Rosneft for $1.12 billion.
• As a result of the transaction the consortium entered into the joint venture running TYN alongside BP and Rosneft, with Rosneft holding a 50.1% interest in the company following the sale of a 20% stake to BP in November 2015.
• TYN holds production licences for the Central and Kurungsk blocks of the Srednebotuobinsk oil and gas condensate field in East Siberia.

Jon Moore - Journalist