RN Eastern Siberia LLC (a subsidiary of Rosneft Oil Company) secured permission from Russia's Federal Antimonopoly Service to consolidate 100% of Taas-Yuryakh Neftegazodobycha LLC, the regulatory body informed.
Rosneft currently owns a 35.3% stake in Taas-Yuryakh Neftegazodobycha which it acquired in 2012 from Sberbank. The transaction value was $444 million.
It will be recalled that Rosneft has taken legal action seeking to receive the documents on the activity of Taas-Yuryakh Neftegazodobycha LLC. In particular, Rosneft requested all the contracts with foreign creditors of Taas-Yuryakh Neftegazodobycha.
The commercial court of Yakutia ruled that Taas-Yuryakh Neftegazodobycha should provide the authenticated copies of the documents containing information on its operations in the last three years (2010, 2011, 2012) and in 2013 (to date) to Rosneft. The company opposed the ruling and filed an appeal (the legal proceedings are postponed till September 3).
Taas-Yuryakh Neftegazodobycha LLC owns oil extraction licenses for the Srednebotuobinskoye oil/gas condensate field 160 km to the north of the ESPO pipeline. Its C1 oil reserves are estimated at 90.9 million tonnes, C2 reserves at 38.9 million tonnes. In view of its size, the Srednebotuobinskoye oil/gas condensate field has been on the list of fields of federal significance since March 18, 2010.
Urals Energy which owned 35.3% of Taas-Yuryakh Neftegazodobycha until 2009 was forced to transfer this asset to Sberbank Capital LLC during the 2008-2009 financial crisis, to have its outstanding loans written off.
The other shareholders are: Yakut Energy Limited (37.4%), Finfund Limited (16.8%) and Limenitis Holding Limited (10.5%, part of the group of companies of the International investment fund Ashmore).
Rosneft Oil Company (tax number: 7706107510) is the largest oil company and largest tax payer in the Russian Federation. Rosneft's proved SEC compliant reserves as of December 31, 2011 were 17.618 billion barrels of oil equivalent. In 2012, Rosneft ramped up production of hydrocarbons by 4.5% to 2.702 barrels per day.
The company's authorized capital is RUB 105.981 million. This amount is represented by 10,598,177,810 common shares at par value of RUB 0.01. The company's largest shareholder is state-owned company Rosneftegaz.
Net profit (IFRS) of Rosneft Oil Company for 2012 increased by 7.2% to RUB 342 billion from RUB 319 billion. Revenue increased by 13.2% to RUB 3.078 trillion from RUB 2.718 trillion for 2011. EBITDA decreased by 8% to RUB 609 billion from RUB 662 billion. Capex amounted to RUB 466 billion, FCF was RUB 45 billion.
According to the information and retrieval system DataCapital, net profit of Rosneft for 2012 as per RAS increased by 27.8% to RUB 302.501 billion. Revenue grew by 28.2% to RUB 2.596 trillion from RUB 2.025 trillion, pre-tax profit by 21% to RUB 345.561 billion from RUB 285.07 billion.