Rosneft Invests $2.8B To Develop 3 Siberian Oil Fields

Law360, New York (November 21, 2013, 2:36 PM EST) -- Russian oil giant Rosneft OAO wants to spend 92 billion rubles ($2.8 billion) by 2015 to develop its Siberian oil assets through subsidiary Vankorneft, the company said Thursday.

The assets include the Suzun, Tagul and Lodochnoye fields, obtained in Rosneft's $55 billion of acquisition of TNK-BP. Their integration with Vankor, which produces oil in other parts of Siberia, will increase the regional resource base by 350 million tons of oil. Developement of the "Vankor cluster" may yield $2 billion in additional revenue from business synergy, Rosneft...
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