Gazprom Neft and Malka Oil Close Transaction on Purchase of STS-Service

Gazprom Neft and the Swedish Malka Oil have completed the transaction on purchase of Malka Oil’s base production subsidiary, OOO STS-Service. The transaction received the approval of Malka Oil’s shareholders, top management of Gazprom Neft and the Federal Antimonopoly Service (FAS) of the Russian Federation. The purchase price makes a total of SEK 820,000,000 (about $113 mln.).

STS-Service owns Block 87 in the Tomsk Region comprising Zapadno-Luginetskoye field (currently under development), Nizhneluginetskoye and a part of Shinginskoye field. C1+C2 category reserves make 11.5 mln tons, and there are 11 prospective structures within the area. Along with the prospective structures, these fields are located in the immediate neighborhood of Shinginskoye field developed by a JSC Gazprom Neft subsidiary, OOO Gazpromneft-Vostok, which currently integrates OOO STS-Service into its own structure.