Rosneft

M&A Activity • Jul 14, 2014

National Storage Mechanism | Additional information

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RNS Number : 2451M

OJSC OC Rosneft

14 July 2014

Rosneft Brasil and HRT Received ANP Approval for the Solimoes Project Transaction

Rosneft Brasil (Rosneft subsidiary) and HRT O&G (HRT subsidiary) received approval by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) for the Rosneft Brasil transaction to acquire additional 6% in the Solimoes project. Under the agreement the completion of the purchase and transaction between HRTO&G and Rosneft Brasil shall occur up to 30 days after the regulatory approval.

The transaction will lead to Rosneft Brasil to receiving 51% control and taking over the operatorship in the joint venture in the Solimoes basin. The parties will continue exploration activities with respect to Solimoes project. Moreover Rosneft will acquire four heli-transportable rigs from HRT O&G.

The relevant transaction amounts to $96 mln.

The Solimoes project establishes Rosneft in Brazil, a country with major upstream growth opportunities and synergies with Rosneft operations in Venezuela.

Rosneft Information Division

Tel.: + 7 (499) 517-88-97

July 14, 2014

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. 

This information is provided by RNS

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