Gazprom Subsidiary Eyes Stake in Tomskneft

Gazprom’s subsidiary Gazprom Neft Finance has sought approval from the Russian Federal Antitrust Service to pick up a 50% stake in the Rosneft-controlled oil company Tomskneft, according to RIA Novosti.

RIA Novosti reported that Gazprom Neft Finance, which is a subsidiary of Gazprom’s oil producing arm Gazprom Neft, is seeking to pick up the 50% stake in Tomskneft for $3.7 billion. Tomskneft was the largest subsidiary of the bankrupt oil firm Yukos.

Tomskneft is expected to produce around 11.6 million metric tons of oil in 2007, and increase crude output to 13.3 million metric tons by 2013, according to RIA Novosti. Tomskneft owns seven mineral licenses in the Khanty-Mansiisk autonomous area in west Siberia and oil and gas production licenses in the Tomsk Region.