Rosneft might sell a stake in Taas-Yuryakh to Chinese investors for $730 mln

​One of the state companies of China is negotiating on the purchase of a stake in Taas-Yuryakh Neftegasdobycha Ltd that develops the Srednesubbotinsky oil and gas condensate deposit in Yakutia along with Skyland Petroleum Group. The stake might cost $730 mln to the Chinese company, the founder and head of Skyland, D. Robson, told Bloomberg.

We have found a good partner from China which is a large state enterprise, Mr. Robson said. A partner of Skyland from China will pay 2/3 of the total amount of $1.1 bln which will allow to purchase 29% in Taas-Yuryakh. Skyland which might receive 1/3 or a half of this 29% stake, hopes to agree the details of the deal with the Asian company by early February.

In November Rosneft signed the main conditions of the agreement with Skyland Petroleum Group which presupposed the sale of up to 29% in Taas-Yuryakh Neftegasdobycha by Rosneft.