Rosneft and Equinor have closed a deal on the acquisition of 49% in KrasGeoNats Ltd by the Norwegian company, Rosneft has informed.
KrasGeoNats holds 12 licenses for exploration and production at areas with traditional deposits located onshore in East Siberia including the Danilovsky area (including the Severo-Danilovskoye field), the Preobrazhensky, the Verkhneichersky, the Mogdinsky, the Vostochno-Sugdinsky, the Sanarsky and other license areas.
The deal is worth some $500 mn. As per the agreement, Equinor undertakes to finance the exploration programme in the areas that are subject of the deal, and some other financial responsibilities.
KrasGeoNats is currently developing the Severo-Danilovskoye field, the production rate there is expected to reach 2 mn tons of crude per annum in 2024. Other areas are being explored.