Rosneft Closes Weatherford Rigs Deal

Rosneft announced Friday that it has closed its deal to acquire land drilling and work-over assets from Weatherford International in Russia and Venezuela.

The deal, agreed last month, sees Rosneft acquire eight Weatherford subsidiaries involved in drilling operations in the two countries.

Rosneft said the realization of the deal will allow it to strengthen its position in the drilling and work-over services market, as well as expanding its network of service contractors to enable increased efficiency in its drilling operations and hydrocarbon production.

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