Amerada Hess Ventures into Russia
Amerada Hess has acquired a 65% interest in Trabant Holdings International, a company which owns 100% of ZAO Samara-Nafta, an exploration and production company located in the Volga-Urals region of the Russian Federation, for $25 million. Samara-Nafta currently produces approximately 7,500 bbls/day of high quality crude from fields in the Mamurinsky license area in the southern Samara region. Production from the fields commenced 2001.
Samara-Nafta will be led by Chief Executive Officer, Simon Kukes, a former CEO of both Tyumen Oil Company (TNK) and Yukos Oil.
John O'Connor, President of Amerada Hess Exploration & Production, said that "Amerada Hess is pleased to have the opportunity to join with Simon Kukes to evaluate the growth opportunities in one of Russia's important oil and gas producing provinces."
Operates 4 Offshore Rigs
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