OAO Rosneft, Russia’s largest oil producer, has gained approval from the antitrust regulator to acquire two companies with licenses in the country’s southern Black Sea and Arctic Barents Sea.
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.