2 April 2015
VIEW EUROCHEM PRESENTATION IN FEB 2015
DETAILS
EuroChem Group AG today announces
the successful completion of its acquisition of
OJSC Astrakhan Oil and Gas Company (OJSC AOGC).
EuroChem has acquired a 100% stake in OJSC AOGC
for a total consideration of RUB 6.4bn.
The deal comprised the acquisition of a state-owned stake
via a public offering and
acquisition from international private companies.
The transaction was approved
by the Federal Antimonopoly Service of Russia in 2014.
OJSC AOGC holds a licence
for the development of the right-bank section of
the Astrakhan gas condensate field,
with reserves amounting to
around 220bn m3 of category C1+C2 gas.
Dmitry Strezhnev,
CEO of EuroChem
“The acquisition of OJSC AOGC is a further step towards
strengthening our vertically-integrated business.
It will provide EuroChem’s production facilities in Russia
with in-house raw materials as the Company continues to
optimise production costs, increase competitiveness and
reduce dependence on external suppliers.
In particular, the project will help us hedge risks related to
the rise in gas prices in southern Russia, where EuroChem
has two production facilities. I am confident that
this investment will have a long-term positive effect
for both EuroChem and the Astrakhan Region.”
WWW.CHEMWINFO.COM BY KHUN PHICHAI
