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SLAVNEFT HAS COMPLETED THE SALE OF CJSC JV MEKAMINEFT

As part of the implementation of supporting service assets of OAO Slavneft completed the procedure for the sale is part of the Joint-Stock Company “Joint Venture” MeKaMineft. Buyer 8,085 shares constituting 61.25% of the share capital of the company, was sold to OOO “Investment company” Denmar-Finance.

CJSC JV “MeKaMineft” is a subsidiary of Slavneft-Megionneftegaz. The company specializes in providing services aimed at increasing oil production in the producing fields, carries out work on deep-hydraulic fracturing, exploration, underground and well workovers, repairs and maintenance of hydraulic keys used during the development wells.

Decision to sell the company’s oilfield services business was taken in late 2009. Isolation from the holding and disposition of the subsidiary bodies will Slavneft focus on the development of primary production. The company expects that this move will help reduce production costs, competition and improved services on the service market.

source http://www.slavneft.ru

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