Half Of ITERA Holding Outstanding Shares Now Belong To Novafininvest

ITERA Holding has declared transfer of all oil and gas actives into the new company.

Now half of ITERA will belong to shareholders, the second half will get Novafininvest from Samara. The new company is going to continue cooperation with "Gazprom" as two companies will be co-owners of some enterprises, such as the Purgaz venture.

The joint property has appeared as a result of the realization of a program of the development of small and average sized deposits in Yamal, a move that has been instigated by the Moscow based Gazprom.

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