Property Ministry provides new information prior to Slavneft tender

The transfer of Varyeganneft assets from Slavneft to Tyumen Oil Company will not have a significant impact on the tender for privatizing the Slavneft state oil company, Russian Senior Deputy Property Minister Alexander Braverman announced at a meeting with journalists today. He specified that Varyeganneft accounted for 9 percent of Slavneft's current oil production and for 10 percent of its reserves. The Deputy Minister characterized the transfer of the assets as "a neutral deal". "Assets will be withdrawn from the company but money will return," he stressed.

According to earlier reports, the Slavneft tender will be held on December 18, 2002.

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