LUKoil, Sibneft and TNK not bidding for Severnaya Neft

LUKoil, Sibneft and the Tyumen Oil Company (TNK) are not bidding for purchasing assets of the oil company Severnaya Neft, Andrey Vavilov, the member of the upper house of the Russian parliament and former Chairman of the company's Board of Directors, told RosBusinessConsulting. He stressed that provisions of the deal would be announced only on February 1, 2003. Neither representatives of the company nor institutions closed to it are going to comment on the deal and announce the buyer.

As reported earlier, Vavilov declared yesterday that the oil company Severnaya Neft would have a new owner. According to the senator, the agreement on selling this company has been achieved already. There is a buyer, a large oil company whose name is not to be announced as yet. Vavilov said it had been the first deal of such a level, in which offshore schemes had not been used. Over the past four years, the company's oil production has advanced from 600,000 to 2.5m tons annually.

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