A view of the oil derrick located in the town of Strezhevoy.
Photo: Ivan Shapovalov
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Russneft Gets on LUKOIL’s Way
As it turned out, Cyprus Broadwood Trading & Investments Ltd (BTI) that opposes LUKOIL’s purchase of 66 percent in Geoilbent from NOVATEK acts on behalf of Russneft. Sources close to YUKOS told Kommersant Cyprus YUKOS Operational Holding Ltd, owner of the 34 percent share in Geoilbent, was sold in April to the companies-related to Russneft. Moreover, former lawyer of Russneft stands for BTI in courts. Russneft declines any involvement in LUKOIL problems encountered by the latter en route to Geoilbent acquisition.
Geoilbent develops Severo-Gubkinskoe, Prisklonovoe and Yuzhno-Tarasovskoe oil and gas condensate fields and explores Urabor-Yakhinsk and Vansko-Namyssk licensed areas, Yamal-Nenets Autonomous District, Russia. The proven reserves stand at 70 million tons of crude. 2004 production reached 1 million tons, 2005 target sets forth 1.2 million tons. NOVATEK announced June 6 it sold 66 percent in Geoilbent to LUKOIL subsidiary LUKOIL-Western Siberia.
Andropovsk Court of Stavropol District banned Transneft June 17 to accept crude from Geoilbent, while NOVATEK was prohibited to dispose of its share. The award was passed under the suit of Broadwood Trading & Investments Limited. BTI says it owns the remaining 34 percent in Geoilbent and has the right of first refusal for the share of the partner.
Not long ago, however, the said 34 percent share in Geoilbent was owned by the YUKOS-controlled YUKOS Operational Holding Ltd., which was renamed to Broadwood and changed the registered office on April 11. Sources close to YUKOS told Kommersant YUKOS Operational was sold to the structures affiliated to Russneft but declined to specify the deal budget. Besides, Broadwood, Russneft bought out YUKOS stake in Russia’s sole maker of down-pumps used in oil production – Tatarstan’s Alnas, where YUKOS had controlled 50 percent of the voting stocks via three Cyprus affiliates.
Russneft Vice President Edward Sarkisov declined to confirm Monday the buyout of YUKOS-controlled assets. But the claim filed by BTI (which copy is available to Kommersant) was signed by the acting under the Power of Attorney lawyer Svertlana Chudina, deputy director at Russneft legal department from 2002 to 2003. Chudina couldn’t have been reached for comment yesterday. According to Sarkisov, she left Russneft more than two years ago.
www.kommersant.com
All the Article in Russian as of June 21, 2005
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