Friday, October 14, 2016

Rostekhnadzor will inspect a joint venture of Bashneft and LUKOIL – RBC

Photo: Andrey Rudakov/Bloomberg

the company, owned by Bashneft and LUKOIL, and developing field. Trebs and Titov, held an unscheduled inspection. LUKOIL previously said he did not expect problems with SP after the change of ownership of “Bashneft”

the Pechora Department of Rostechnadzor on 24 October will begin an unscheduled inspection of the company “Bashneft-Polyus”, which develops the field. Trebs and Titov in the Nenets Autonomous district, the materials placed in the Unified registry of inspections of the Prosecutor General. The test will last until October 28, the documents.

Information about the impending test RBC confirmed the official representative of Rostechnadzor Julia Neposedov. According to her, Rostechnadzor received a notice from Bashneft on the completion of construction of capital construction objects on the field. Trebs and Titov. “Upon receipt of such notification we are always unscheduled, and the order of them is released within one to two days from the date of receipt of the notice”, she added. A representative of Rostechnadzor said that the order to monitor released October 7.

Official representative of LUKOIL Vitaly Matushkin told RBC that he was not notified about the unscheduled audit “Bashneft-the pole”.

“On 24 October was the scheduled departure of the Rostekhnadzor for obtaining the act of the final inspection after completion of construction and commissioning of some production facilities. Notice of RTN was sent officially the 3rd of October”, — told RBC representative of “Bashneft”.

“Bashneft-Polyus” — a joint venture of Bashneft and LUKOIL (share in Bashneft — 74,9%, LUKOIL — 25,1%). The company develops deposits in them. Trebs and Titov in the Nenets Autonomous region, the reserves of which exceed 240 million tons of oil.

License for mining them. Trebs and Titov “Bashneft”, which at that time was controlled by AFK “System” Vladimir Yevtushenkov, won the contest at the end of 2010. In December 2011, Bashneft transferred the license to its subsidiary “Bashneft-the pole”, in which LUKOIL received 25.1%. LUKOIL was all the necessary infrastructure to develop these fields, for its share in the joint venture paid $ 153 million, and also provided “Bashneft-Polyus” loans in total of 5.95 billion rubles.

But in the spring of 2012 the transfer of the license was challenged by a minority shareholder of “Bashneft” Svetlana Proskuryakova, who demanded to return the license to the parent company. The Committee cancelled its order for renewal of license, but a few months later Proskuryakova lost. Return of license “Bashneft-Polyus” the partners took almost two years. And in 2014, a similar lawsuit was filed by 75-year-old Reil Inozemtseva, which became the owner of ten shares of “Bashneft” several days before filing a lawsuit. The Moscow arbitration court satisfied her claim, but she lost the appeal in January 2015. Just at this time, “Bashneft” was nationalized — at the suit of the Prosecutor General’s office of its privatization was illegal. Despite the court battle, production on the field. Trebs and Titov began in 2013. By the end of 2015, “Bashneft-Polyus” produced 1.4 million tonnes, and by 2020 the company plans to reach a peak production of 4.8 million tonnes.

She Bashneft on October 12 under the control of Rosneft, which bought a share of Federal property management Agency (of 50.08%) for 329,69 billion rubles on that day, the head of LUKOIL Vagit Alekperov said that the company does not “expect problems” in the work with joint ventures with “Bashneft”. LUKOIL does not intend to leave number of shareholders of “Bashneft-the pole”, stressed the Vice-President of the company Leonid Fedun.

Press Secretary of “Rosneft” Mikhail Leontyev then told Forbes that it is premature to talk about further cooperation of Bashneft and LUKOIL. “There is a different set of transactions, among which there are decidedly mixed, so to speak, of the transaction. We will all be looking to see a legitimate reason, the terms of the acquisition, which encumbrance there and so on. Everything we look at,” he said. While Leontiev noted that deposits them. Trebs and Titov are the “good field”. “As far as we know, one of the incentives of joining LUKOIL “Bashneft” has been an interest in these fields,” he said.

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