Roman Abramovich's 19-year-old son buys oil company

Arkady Abramovich's affiliated company Zoltav Resources Inc. has acquired oil company CenGeo Holdings Ltd with assets in Western Siberia, the press service of the holding reports. 

It was previously reported that Zoltav, owned by Roman Abramovich's 19-year-old son, was intended to acquire the oil company for the additional issue worth $26 million. CenGeo through its "daughter" - JSC Siberian Geological Company - possesses the oil production license at the Koltogorsky block in Western Siberia. The license is valid through 15 February 2033.

Zoltav is to invest additional $20 million in the development of the Koltogorsky block.