Rosneft Unit To Buy More Offshore Assets

Rosneft unit Zapad-Shmidt-Invest has received regulatory approval to acquire Chernomorneftegaz, Sintezneftegaz and Artikprominvest.

Rosneft unit Zapad-Shmidt-Invest has received regulatory approval to acquire Chernomorneftegaz, Sintezneftegaz and Artikprominvest, Reuters reports. The Russian crude producer will purchase more offshore assets in the Arctic.

The assets are likely to be bought for an amount between $300 million and $400 million. Rosneft had entered an agreement with Exxon Mobil last week to together develop oil and gas deposits in the Russian Arctic.

Click here for the story from Reuters.