Urals rakes in $93.5m from Komi sale
Urals Energy is selling some of its non-core assets in Russia's Komi Republic
- including the producing Dinyu field - to private third-party buyers in a
$93.5 million cash deal.
The move comes as Urals focuses on its East Siberia assets.
Urals said the sale also includes Michayuneft, Nizhne Omrynskoye Neft,
Verchne Omrynskoye Neft and Voyvozh Neft.
The total proved and probable reserves for Dinyu and Michau, according to the
company’s most recent reserve report by DeGolyer & MacNaughton, are 21.8
million barrels of oil.
Nizhne Omrynskoye, Verchne Omrinskoye and Voyvozh have C1+ C2 reserves of 27.8
million barrels of oil according to the Russian State reserves records.
Urals will continue to market the oil produced from the fields included in the
sale, and will charge a fee for this service, it added.
Meanwhile, Urals said non-executive director Bob Maguire has resigned with
effect from 1 May 2008, to devote more time to his other business interests.
22 April 2008 13:58 GMT
| last updated:
22 April 2008 13:58 GMT
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