Bashneft matures into major operator

By VLADIMIR AFANASIEV Moscow

 21 June 2012 22:59 GMT

THE Russian energy industry has seen a large number of mergers and acquisitions in recent years, particularly benefitting Rosneft and Gazprom, but the emergence of a new privately-owned player has surprised analysts.

In the last two years, Russian oil company Bashneft has grown from a regional oil producer into a vertically integrated player, with operations in various regions of the country and outside Russia.

Bashneft achieved success at West Siberian mature oilfields, operated by TNK-BP, and it has also proven the remaining high potential of even older assets that have been in production since the 1930s in the Russia’s Bashkiria region.

Just months after Moscow-based Sistema acquired a controlling stake in Bashneft, the producer started to demonstrate the highest growth rates in the Russian oil…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index