Russian Oil Giant Sibneft, Others Team Up for Onako Privatization
August 13, 2000 - 0:0
TEHRAN Oil companies Sibneft and Yukos, and Stroistransgaz, a subcontractor of gas giant Gazprom, said Thursday they had formed an alliance to participate in the partial privatization of oil group Onako next month.
According to an AFP report, the government is offering to sell 85 percent of Onako, on which it has put an initial price of $425.25 million. The tender for offers is scheduled to close on September 14 and the result is to be announced on September 19. Onako's business is centered in an area near Kazakhstan.
Its main assets are production subsidiary Orenburgneft and a refinery at Orsk. Orenburgneft last year produced 7.95 millions tons (58 million barrels) of crude and exported 31 percent of its production.
Yukos already owns 25 percent of Orenburgneft. The leading Russian oil producer, Lukoil, has also expressed interest in acquiring Onako.
According to an AFP report, the government is offering to sell 85 percent of Onako, on which it has put an initial price of $425.25 million. The tender for offers is scheduled to close on September 14 and the result is to be announced on September 19. Onako's business is centered in an area near Kazakhstan.
Its main assets are production subsidiary Orenburgneft and a refinery at Orsk. Orenburgneft last year produced 7.95 millions tons (58 million barrels) of crude and exported 31 percent of its production.
Yukos already owns 25 percent of Orenburgneft. The leading Russian oil producer, Lukoil, has also expressed interest in acquiring Onako.