November 2004

18.11.2004
“Vedomosti”. Gutseriev has found cheap oil.
Former president of “Slavneft” Mikhail Gutseriev continues to expand his company by buying new assets. This time he bought six oil fields in Tomskaya oblast for a trifling sum. It became possible because former owners of these fields had serious problems with local prosecutors office.

Former president of “Slavneft” Mikhail Gutseriev continues to expand his company by buying new assets. This time he bought six oil fields in Tomskaya oblast for a trifling sum. It became possible because former owners of these fields had serious problems with local prosecutors office.

Last Friday “Russneft” bought six oil fields in Tomskaya oblast with total oil reserves of 28 million tones for $30 mln. “Recent acquisitions didn’t cost “Russneft” much – approx. 7 cents per barrel of reserves. Normally the market price is around 10-15 cents per barrel” – says “Aton’s” analyst Steven Dashevskiy.