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M&A: Yamal Development completes acquisition of stake in SeverEnergia

Yamal Development (a 50:50 joint venture between JSC Gazprom Neft and JSC NOVATEK) has acquired a 60% holding in Artic Russia B.V. from Italy's Eni, Gazprom Neft informed.

Artic Russia B.V. owns a 49-percent equity interest in SeverEnergia. Following the transaction Gazprom Neft's stake in SeverEnergia will increase to 40.2%.

"With several major projects currently under development in the north of the Yamalo-Nenetsk Autonomous Region, Gazprom Neft continues establishment of a new cluster here that will make a significant contribution to increasing our production to 100 million tons of oil equivalent per year. SeverEnergia is one the projects: the company began commercial production of gas in April 2012, and a 200,000-ton-capacity oil treatment facility completed at the Samburgskoye field at the end of 2013 has allowed oil production to begin," Gazprom Neft First Deputy CEO Vadim Yakovlev commented.

SeverEnergia LLC owns licenses for the exploration and production of hydrocarbons at the Samburgskiy, Yaro-Yakhinskiy, Yevo-Yakhinskiy and Severo-Chaselskiy license blocks. As of January 1, 2013, the company's recoverable reserves under the Russian standards (ABC1+C2) amounted to 1.35 trillion cubic meters of natural gas and 699 million tonnes of liquid hydrocarbons.

JSC NOVATEK (tax number: 6316031581) is the second largest natural gas producer in the Russian Federation after Gazprom. In 2012, the company increased its sales result to 58.9 bcm of natural gas (+9.7% against 2011) benefiting from its subsidiaries' organically growing gas production.

IFRS net profit of NOVATEK for 9 months 2013 grew by 13.7% to RUB 57.886 billion from RUB 50.911 billion the year before. Sales revenue increased by 41.4% to RUB 214.243 billion from RUB 151.535 billion.

RAS net profit of JSC NOVATEK for H1 2013 fell by 38% to RUB 13.169 billion from RUB 21.28 billion the year before. Revenue increased by 43% to RUB 115.343 billion from RUB 80.879 billion.

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 JSC Gazprom Neft for 9 months 2013 attributable to its shareholders increased by 0.4% to RUB 135.154 billion from RUB 134.677 billion the year before. Revenue decreased by 0.7% to RUB 1.117 trillion from RUB 1.125 trillion. EBITDA grew by 2.6% to RUB 236.28 billion from RUB 230.333 billion.

According to the information and retrieval system DataCapital, RAS net profit of Gazprom Neft for 9 months 2013 dropped by 22% to RUB 51.681 billion. Revenue went up 9% to RUB 735.62 billion, GP increased by 20% to RUB 118.209 billion. Pre-tax profit decreased by 16.1% to RUB 62.7 billion.

"AK&M", 16.01.2014


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