Russia's Federal Antimonopoly Service granted the application of Gazpromneft-Vostok LLC for the takeover of Archinskoye LLC, the regulatory body informed.
The transaction applied for will not restrict competition, the competition authority points out.
The core business of Archinskoye LLC (Tomsk) is the development of oil and gas condensate fields.
Gazpromneft-Vostok LLC is a subsidiary of Gazprom Neft.
JSC Gazprom Neft (tax number: 5504036333) ranks fifth largest oil producer in the Russian Federation. Gazprom Neft and its subsidiaries own 61 licenses for the prospecting and development of oil fields. The proven oil reserves in the company's fields exceed 4.5 billion barrels. The company's largest shareholder is Gazprom Group.
IFRS net profit of Gazprom Neft for 2013 attributable to the company's shareholders grew by 0.9% to RUB 177.917 billion. Revenue decreased by 1% to RUB 1.504 trillion from RUB 1.519 trillion in 2012, adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 4.2% to RUB 336.752 billion from RUB 323.106 billion.
According to the DataCapital information retrieval system, RAS net profit of Gazprom Neft for H1 2014 went up 34.3% to RUB 47.502 billion from RUB 35.359 billion the year before. Revenue increased by 6% to RUB 614.225 billion from RUB 578.582 billion, GP decreased by 5% to RUB 171.755 billion from RUB 181.841 billion.