Rosneft Buys Orenburg Drilling Company
Russia's Rosneft reported Wednesday that it has acquired Orenburg Drilling Company from VTB-Leasing Group.
Rosneft said the acquisition of Orenburg is a key aspect of its program aimed at reequipping its fleet of drilling units and implementing a policy for increasing the amount of services it can supply internally.
Rosneft First Vice President Eric Liron commented in a company statement:
"The Orenburg Drilling Company fleet of drilling units is one of the most modern in terms of technology and average age of the drilling units. As a result of the transaction, Rosneft's internal service share will increase enough to considerably improve efficiency of drilling projects implementation at the company's greenfields and brownfields, in particular by means of cost control at each stage of wells construction.
"Rosneft plans not only to concentrate on domestic drilling needs, but to carry on rendering services to third-party customers, contributing to oil production efficiency improvement."
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- China's CEFC Eyes Big League With Rosneft Oil Offtake Deal (Oct 17)
- Buyers Eye Sinopec's Argentina Oil Assets in Sale Worth Up to $1B - Sources (Oct 09)
- Venezuela Confirms Discussing Citgo Collateral Swap With Rosneft (Oct 04)
Company: OOO OBK (Orenburg Drilling Co.) more info
- Rosneft Buys Orenburg Drilling Company (Apr 02)
- Matra to Increase Production Activity in Russia for 2008 (Dec 17)
- Matra Subsidiary Signs Drilling Rig Contract (May 10)