TNK and Sibneft jointly acquired a 74.95% state stake in 320,000 barrel-per-day producer Slavneft in December for $1.86 billion. The pair now control around 99% of Slavneft stock.
According to the preliminary pact, upstream assets of Slavneft in west and east Siberia will be split evenly between the two companies. Meantime, downstream assets in Russia and the republic of Belarus will be managed jointly with Sibneft and TNK having equal rights to process their own crude at refineries in Yaroslavl in Russia and Mozyr in Belarus.
Analysts
