Rosneft Buys Remaining Stake in East Siberian Oil Producer
MOSCOW, Oct 15 (Reuters) - Rosneft, Russia's top oil producer, said on Tuesday it had increased its stake in East Siberian crude producer Tass-Yuriakh to 100 percent, which will help boost the state-controlled company's own production.
Before the deal, Rosneft owned a 35 percent stake in the company. Taas-Yuriakh is expected to produce 1 million tonnes of oil in 2014 and over 5 million tonnes annually starting from 2017.
Rosneft CEO Igor Sechin said in a statement that crude from the new asset is expected to be shipped to a planned oil refinery in China, among other destinations, adding that the company had already started talks to secure a strategic investor in Taas-Yuriakh.
Sources told Reuters last month that Rosneft offered a stake in an East Siberian oil producer to China National Petroleum Corp as part of their broader cooperation.
(Reporting by Katya Golubkova, Editing by Alessandra Prentice)
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