Soco Completes Sale of OILSOC Shares to Gazprombank
SOCO
SOCO has completed the transaction announced last year wherein its 100% owned subsidiary, SOCO North Africa Limited and Oilinvest (Netherlands) B.V. agreed to sell the entire issued share capital of OILSOC Investment Company Limited to Joint Stock Bank of the Gas Industry Gazprombank.
OILSOC assets consist entirely of its 20% shareholding in ODEX Exploration Limited, a specific purpose upstream joint venture formed by Oilinvest and SOCO NA to identify, develop, produce and market hydrocarbon opportunities in Libya and other countries. SOCO NA received US$2,454,505 for its 45% net interest in OILSOC. The current ODEX shareholders are Oilinvest (46%), SOCO NA (34%) and a subsidiary of Gazprombank via its OILSOC purchase (20%).
OILSOC assets consist entirely of its 20% shareholding in ODEX Exploration Limited, a specific purpose upstream joint venture formed by Oilinvest and SOCO NA to identify, develop, produce and market hydrocarbon opportunities in Libya and other countries. SOCO NA received US$2,454,505 for its 45% net interest in OILSOC. The current ODEX shareholders are Oilinvest (46%), SOCO NA (34%) and a subsidiary of Gazprombank via its OILSOC purchase (20%).
RELATED COMPANIES
Most Popular Articles
- Gunvor CEO Sees Russian Refining Capacity Taking Hit from Drone Strikes
- Sinopec Engineering Posts Higher Annual Petrochemicals Revenue
- Subsea7 Secures Contract to Service Woodside's Trion
- These Factors Helped Brent Oil Price Break Above $85
- Imperial Pipeline in Winnipeg Goes Offline for Three Months
- Adnoc Inks Supply Deal for Ruwais LNG Project with Germany's SEFE
- Gaz System to Acquire Gas Storage Poland
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Rystad Looks at the Buzz Around White Hydrogen
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension