EuroChem buys 20.1% in “Astrakhan oil-and-gas company”

EuroChem bought 20.1% in “Astrakhan oil-and-gas company” (ANGC) for 1.338 billion roubles. It is said about in the company’s report under RAS.

After the approval by regulators the company hopes to acquire another 54.77% in the company.

ANGC was created in 2000. It got the license for the development of a right bank part of the Astrakhan gas condensate field with an area of 655 square kilometers. The resources are assessed at 220 billion cubic meters of gas and about 20 million tons of oil. “Gazprom dobycha Astrakhan” develops the left-bank part of the Astrakhan gas field. In 2006 ANGC bought Rosukrenergo of D.Firtash, but later businessman had to return the shares to VTB and Astrakhan region. Gazprombank named itself an owner of 74.9% shares of ANGC in late 2008.