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Lukoil eyes JV partners' 50% in Kama-Oil
Tuesday 05 February 2013

5 February 2013 – Russian oil giant Lukoil OJSC (MCX:LKOH) plans to acquire the 50% stake held by businessman Dmitry Rybolovlev in their oil fields exploration joint venture Kama-Oil CJSC, Vedomosti reported today, quoting a company representative.

Kama-Oil was formed in 2007 by Lukoil-Perm LLC and Rybolovlev's Madura Holding Ltd with the purpose of exploring and developing oil fields in Russia's Perm region. A 50% stake in the firm may be worth between RUB1.5bn (USD49.9m/EUR36.9m) and RUB3bn based on its oil reserves.

According to Andrei Polishchuk, an analyst at Raiffeisenbank, Lukoil wants to consolidate all upstream activities with the goal of enhancing its results and stabilising output.
Details
Date Published: 05/02/2013
Target: Kama-Oil CJSC
Country: Russia
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Status: Bidding
Vendor: Madura Holding Ltd, Dmitry Rybolovlev
Buyer: Lukoil OJSC
Comment:
A 50% stake could be worth up to USD99.9m.

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