Russian Rosneft Has its Mind Set on Acquiring Yukos’ Assets

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Researched by Industrial Info Resources (Sugar Land, Texas). Rosneft (Moscow, Russia) has announced that it has applied to participate in the auction of Yukos’ fixed assets in East Siberia scheduled on May 3. The assets to be auctioned off are mainly oil exploration and refining facilities that belonged to Yukos. If successful, Rosneft will replace LUKOIL as the largest oil exploration company in Russia.

This time, shares of 28 companies in East Siberia controlled by Yukos will be auctioned. The 28 companies are mainly oil exploration and refining companies, with a few oil service establishments and power plants. The most attractive among the 28 are Tomsk Oil, Angarsk Petroleum & Chemical, Achinsk Refinery and 70.7% of the shares in East Siberia Petroleum and Gas. East Siberia Petroleum and Gas has the license to extract the Yurubcheno-Takhomskoye Oil and Gas Field. The starting price for the auction is $6.45 billion, the deposit required is $1.29 billion.

The estimated market value of all the assets being auctioned this time is $9 billion, 30% higher than the auction’s starting price. East Siberia Petroleum and Gas’ shares are worth $1 billion. However, the Russian official estimate is only $190 million, due to the prospect of possible revocation of its Yurubcheno-Takhomskoye license by Russian Department of Mineral Resources. Tomsk Oil’s market value is $6.8 billion, yet, the official estimate is $3.3 billion

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