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M&A: FAS Russia permits INK to purchase 100% of LenaNefteGaz shares

Russia's Federal Antimonopoly Service granted the application of Irkutsk Oil Company LLC (INK) for the purchase of a 100% equity stake in LenaNefteGaz LLC, the regulatory body informed.

The competition watchdog also granted INK's application for the takeover of LenaNefteGaz.

INK Group holds 19 subsurface licenses for the geological survey, exploration and production of hydrocarbons in Irkutsk region and the Sakha Republic (Yakutia). Over 12 years of its existence, INK has invested more than RUB 40 billion in the development of deposits and infrastructure. For the last three years, INK has tripled the monthly production of crude hydrocarbons to more than 200 thousand tonnes of oil and gas condensate.

LenaNefteGaz LLC (Irkutsk) is principally engaged in the geological survey, exploration and development of subsurface resources, including the production of crude hydrocarbons, at the Iktekhsky site and other subsurface sites in the Russian Federation.

"AK&M", 17.07.2014


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