A Rosneft subsidiary was cleared to buy Russian billionaire Vladimir Lisin’s Black Sea oil explorer ZAO Chernomorneftegaz and Arctic explorer ZAO Sintezneftegaz, the Federal Anti- Monopoly Service said today on its website.
Both closely held oil explorers have faced limitations on development since Russia introduced laws restricting offshore oil and gas production to state-owned companies, such as Rosneft and OAO Gazprom. Sintezneftegaz has spent $80 million on exploration in the Arctic and in Africa, according to the company website.
Rustam Kazharov, a Rosneft spokesman, was not immediately available for comment when Bloomberg News phoned his mobile phone.
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