Rosneft sells Polyarnoye siyanie

Rosneft still can sell one of its problematic assets - 50% of Polyarnoye siyanie (a joint venture with US ConocoPhillips). According to the Kommersant’s information, Tatneftegaz North and the family of the businessmen Yuri and Alexei Khotin are interested in the company. The asset with depleted reserves and declining production is unofficially estimated at $200 million, but experts believe that its real price is not more than $50 million. Experts doubt that the joint venture will be able to run for more than ten years.

As the Kommersant has got to know, Rosneft ends the choice of a buyer of its share (50%) in the joint venture with ConocoPhillips Polyarnoye siyanie. The whole asset within the transaction, according to the Kommersant’s information, is estimated at $200 million, and potential buyers are Tatneftegaz North and structures of Yuri and Alexei Khotin.