Tue Dec 1, 2009 9:44am GMT
MOSCOW, Dec 1 (Reuters) - Gazprom Neft (SIBN.MM), Russia's No. 5 oil producer, is buying access to three oilfields in western Siberia in a $118 million deal to acquire the main production unit of Swedish company Malka Oil AB (MALK.ST).
Gazprom Neft, the oil arm of Russian gas giant Gazprom (GAZP.MM) is buying Malka Oil's 100 percent-owned subsidiary STS-Service, the companies said on Tuesday.
STS-Service, based in the Siberian city of Tomsk, is responsible for daily operations of Malka Oil's three deposits.
Malka Oil's website says the deposits hold 97 million barrels in proven and probable reserves to Russian state classification. The company began production in 2006.
The Lower Luginetskoye field is potentially the largest, with reserves of 71 million barrels. West Luginetskoye holds 20 million barrels and Shinginskoye 6 million barrels, Malka said.
Malka Oil produced 62,062 barrels of oil in October, averaging 2,002 barrels per day. The company planned to produce 62,625 barrels in November. Monthly crude oil output in Russia, currently the world's largest producer, has exceeed 10 million barrels per day in each of the past two months. (Reporting by Robin Paxton; Editing by Dan Lalor) ((robin.paxton@reuters.com; +7 495 775 1242; Reuters Messaging: robin.paxton.reuters.com@reuters.net))
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Source: http://uk.reuters.com/article/idUKGEE5B00KV20091201
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